The National Association of Realtors reported Wednesday that sales of previously owned homes rose 3.7 percent last month, following the 9.6 drop recorded in February. The results were slightly better than forecast, but reaction was mixed after the release of the report. One economist says sales have now stabilized at a level no higher than that seen during the recession, and with so many forced foreclosed sales, a recovery is not even on the horizon. But another points out that it’s distressed properties that are helping to elevate sales activity as investors line up for a bargain.
All of this up-and-dow, and reaction to it, only points out what we have been talking about over the past 12 months: that this recovery will take on a “sawtooth” approach, and looking at month-over-month stats, in the long run, are not as helpful as year over year. What does this mean for your situation? Call me for a quiet conversation.
The Bremner Group at Coldwell Banker
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