Housing Price Rise Is Good News For Sellers – Part 2
Posted by RealEstate_Guru
One possible glitch in the recent upward trend in home prices is how long it will take for consumers to respond to the modest but positive signs in the housing market. It’s not likely to be a heady, skyrocketing ascent but rather a general rise punctuated with plenty of modest declines. In the words of one analyst, Mark Zandi, from Moody’s Economy.com, “The bottom of the market is forming, but price declines aren’t over.” So, for those who have Raleigh North Carolina property for sale, the signs are good but not great.
Other good signs include that sales of existing homes have increased in April, May and June 2009. Another indicator is that sales of new homes have jumped 11%. Finally, government figures report that the national inventory of homes for sale is the lowest since 2007.
One important current trend is that buyers are looking for smaller, more affordable homes after some thoughtful consideration of “how much home they really need,” according to Jim Chittaro, chief financial officer for J. Lawrence Homes in Naperville, Illinois. This means that sellers need to emphasize the quality features in their homes rather than the size because buyers now tend to prefer homes they can improve themselves rather than homes that already have features like gourmet kitchens or spa bathrooms.
All these factors are converging to create wide, sustainable confidence that the severely depressed real estate picture is brightening for those who have property for sale in Raleigh, North Carolina.
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