April Showers Bring May Flowers

April 30, 2008

Here we are at the final day of the month of April. In Southern California we did not have a great deal of rain, but we were showered with economic statistics and future forecasts. Do you think that, perhaps, all the outpouring of negative news has prepared the way for a blossoming of positive trends?

Maybe - maybe not. Since what I have been reading of late keeps referring to the housing statistics of the month of February, it is possible we will see more positive statistics based on March's real estate market. I base my opinion on the fact that in the IMRMLS the number of reported March sales were much better that those in February. I think that an increase in the volume of sales reflected a decrease in the prices being asked by sellers. Buyers began to acknowledge that homes were decently priced.

It is a week early for me to research the IMRMLS for the sales data of the month of April, but I am anxious to see how it compares with March 2008 and April 2007. If the number of units sold and in escrow continues to increase, it will signal a willingness of buyers to reenter the real estate market place.