Tuesday, February 3, 2009

The Bottom of the Santa Rosa Real Estate Market May Be Forming

Right on schedule, small bright spots start to emerge in the real estate market. I've blogged about this before, my prediction for the real estate turn around is spring of this year and though it is too early to tell, this bit of good news is the beginning of the end. I'll be snatching up a deal in the April, May, June time frame.
clipped from finance.yahoo.com

It was the second positive sign in the past two weeks for the troubled U.S. housing market, and may indicate that a bottom is forming -- at least for home sales. Analysts, however, caution that prices are likely to keep falling through 2009, and say the outlook for home sales is uncertain, especially as layoffs mount and banks' lending standards remain tight.

The National Association of Realtors said Tuesday its seasonally adjusted index of pending sales for previously owned homes for December rose 6.3 percent to 87.7 from an upwardly revised November reading of 82.5, which was lowest month on record. That's better than the 82.3 reading economists expected, according to a survey by Thomson Reuters.

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