The Southern Oregon Real Estate Market Recovery
There’s nothing like good news even if it is in small increments. For the month of March, pending home sales nationwide showed a gain of 3.2% over February. This gain is the 2nd consecutive increase in pending sales and it may signal the start of an economic recovery in the housing sector for the nation and the Southern Oregon real estate market. This increase may also explained by the first-time homebuyers tax credit of up to $8000 that has motivated some buyers to get off the fence and finally make a contractual commitment to buy.
Additionally, on May 4th, there was a show of support from the Stock Markets driven by the better-than-expected data from the housing market. The Dow Jones Industrial Average gained 214, the Nasdaq Composite Index was up by 44, and the S & P 500 Index climbed by 29. For the last 6 months, the National Association of Realtors Affordability index has pointed to an impending recovery for the housing sector and it now seems to be bearing fruit.
For those who believe that the global economic crisis began with the U.S. housing market and will only end with the recovery of the U.S. housing market, then there is reason to celebrate. The good news is that we’re finally bouncing off the bottom. And yes, good news is like ice cream on a hot summer day. We’ll take it anyway we can get it.
A Socially Conscious Real Estate Consultant
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This entry was posted on Wednesday, May 13th, 2009 at 2:17 pm and is filed under the category Grants Pass Real Estate, Green Real Estate, Michael Masters. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.
