Stabilizing Process For Real Estate – Real Recovery?

Posted: Friday, November 11th, 2011
Category: Real Estate License

Real Estate – Real Recovery?

Dust off that real estate license because the real estate industry is on the mend! Or is it?

Reports by the National Association of Realtors suggest that a stabilizing process is underway (at least in some areas) borne on the back of a modest second-quarter decline in median existing-home prices with 27 percent of metropolitan areas experiencing price gains from 2010.

In 41 out of 151 metropolitan statistical areas (MSAs), the median existing single-family home price climbed in the second quarter from the same period in 2010. The price rise included four with double-digit increases; one was unchanged and 109 areas showed declines. In the first quarter, 34 metro areas had posted gains from a year ago.

NAR chief economist, Lawrence Yun, confirmed that home prices have been moderating. “Markets showing consistent price stability or increases are those with solid labor market conditions, such as in Washington, D.C.; San Antonio; or Fargo, N.D.” A spot of good news for all you holders of a Texas real estate license (or pre-license)!

Full story at http://www.realtor.org/press_room/news_releases/2011/08/metroprice_q2.