Townizen

When will the Downward Housing Trends End?

In my company office meeting this morning we watched some video clips about the US Real Estate market. It has clearly improved, especially for starter homes and lower end homes. Nationwide there is a balanced supply of inventory for these homes. The upper end home sales forecast is still really dismal, according to Lawrence Yun, It's actually worse than it was a year ago. None of this really matters as real estate is regional. For Real Estate in Layton Utah, I think we still may not have hit bottom yet. Real Estate in Provo Utah on the other hand appears to be on the up swing. Home sales in Provo were up by more than 25% last month! In other areas of the nation prices are probably already rising.

Some of the people interviewed think that we are close to hitting bottom, but can't fully recover until the increase of foreclosure homes ends.

Here are the links to the videos:

http://www.cnbc.com/id/32190934
http://www.msnbc.msn.com/id/32170761/ns/business-real_estate/
http://www.realtor.org/press_room/news_releases/2009/07/sales_up

The Real Estate downward cyle will end one day, the question is when....