Headlines Can Certainly Be Confusing
May 30, 2012
It is always interesting to follow the housing market reports in the news media. In the Business section of the Los Angeles Times this morning, a front page headline read "Home prices hall 2.6% in March". On the Business page of The Sun Newspaper the front page headline read "Home prices rise". Do these contradictory headlines make your head spin?
Reality about the housing market in our area seems to be that we are experiencing a bumpy ride along a bottomed out real estate market. Volume in pendings in April was up substantially. Next week I shall be posting the numbers for May.
If you are a prospective home buyer, you may have already realized that new listing are being sold at a much faster pace. You see a property one day and it might not be there the next. Activity seems very brisk and next week we shall learn whether the numbers bear this out. A factor that may impact the number of pending sales could be the shortage of inventory. If several buyers want the same property, at least one possible pending sale will not occur.
Interestingly, we have not really seen many overbids. Purchasers are still wary, particularly when they hear experts saying that prices may still decline.
As in every real estate market, folks who find a property that suits there needs and desires will make offers and properties will sell.
It is always interesting to follow the housing market reports in the news media. In the Business section of the Los Angeles Times this morning, a front page headline read "Home prices hall 2.6% in March". On the Business page of The Sun Newspaper the front page headline read "Home prices rise". Do these contradictory headlines make your head spin?
Reality about the housing market in our area seems to be that we are experiencing a bumpy ride along a bottomed out real estate market. Volume in pendings in April was up substantially. Next week I shall be posting the numbers for May.
If you are a prospective home buyer, you may have already realized that new listing are being sold at a much faster pace. You see a property one day and it might not be there the next. Activity seems very brisk and next week we shall learn whether the numbers bear this out. A factor that may impact the number of pending sales could be the shortage of inventory. If several buyers want the same property, at least one possible pending sale will not occur.
Interestingly, we have not really seen many overbids. Purchasers are still wary, particularly when they hear experts saying that prices may still decline.
As in every real estate market, folks who find a property that suits there needs and desires will make offers and properties will sell.
posted by shirley harry at 8:15 AM
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