The real estate recovery is for real this time
Unlike the past, this time it’s here to stay
How many times have we written about housing prices increasing and sales volume getting stronger and stronger in the last few months? The question has always been, “Will it stay this way or is this just another upward blip in an otherwise downward trend?” It seems as though there is good reason to believe it’s here to stay.
A recent article in the San Diego Daily Transcript talked about the findings by CoreLogic in a recent study. They found that low interest rates, affordable prices, and renewed interest and confidence in the real estate market were contributing to the resurgence of the market this time around. This is quite different than a few years ago when the market experienced a brief uptick due to the first-time homebuyers tax credit, which essentially just moved sales up rather than creating new ones.
The other reason to believe this surge is more of a trend than a blip is the improved foreclosure market. As we have reported several times, foreclosures across the board are down from a year ago. Another recent article in the San Diego Daily Transcript reported findings from RealtyTrac that showed the foreclosure numbers continually improving – down 13% in the third quarter versus last year! This has helped California lead the real estate recovery for the rest of the nation.
There is indeed reason to have confidence in the real estate recovery – and the real estate market – once again.
Bryan & Allison Devore
Prudential California Realty
North San Diego County and Carlsbad Real Estate
Blog Archive2018-11-13 08:33:28
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