Real estate agents in the US are reporting another increases in residential property sales, the third monthly rise in a row, giving rise to further talk of a recovery in the beleaguered property market.
The latest figures from the National Association of Realtors show that overall sales transactions increased 3.6% in June, just slightly below the year-ago level and at a quicker rate than expected. But house prices were still down 15.4% on a year ago. The average sale price now stands at $181,000.
But the figures are injecting hope into the troubled real estate market. ‘This is another hopeful sign. The housing market is healing,’ said Lawrence Yun, the association’s chief economist. ‘The increase in existing home sales occurred in all major regions of the country,’ he added. source: nuwireinvestor.com
Three straight months of increase of sales. This is one sure sign that not only has the market reached the bottom, but recovery is on its way for the US real estate market and the worst may be behind us. View Naples Beachfront Homes for Sale
Tuesday, July 28, 2009
Friday, July 10, 2009
Naples & Bonita Springs Area - Pending & Closed Sales Trends
As each graph shows, pending and closed sales have been on the rise for both Naples & Bonita Springs Areas.
Residential Real Estate Is Starting To Bounce Back
Economic growth in the second half of the year is expected to come in “substantially” above previous consensus, according to economic commentary this week from Bank of America/Merril Lynch analysts.
Lori Helwing, an economist at BofA/Merrill Lynch, says the analysts there now expect a 2.1% slip in real gross domestic product (GDP) in 2009, 30 bps improved from the old -2.4% estimate. The US economics team also expects 2.6% growth in real GDP in 2010, up significantly from the old 1.8% estimate.
The revised projections come as the analysts see residential investment starting to bounce back.
Residential investment is now projected to decline 20.1% for all of 2009, nearly two full percentage points improved from the old -22% estimate. Residential investment is seen to grow 4.5% in 2010, a vast improvement over the 4% decline previously projected.
“We are now tracking positive sequential growth in 3Q after 3-1/2 years of declines and a 53% correction from the peak is set to add to growth over the second half” of 2009, Helwing says. “This stabilization in homebuilding and slightly positive home sales could continue going forward.” Source: nuwireinvestor.com
Estimates by analyists are now being revised from previous doom and gloom to a slighly more positive outlook. The real estate market is slowly starting to recover, because of this estimates of home prices will be impacted. Signs in Naples are pointing to the bounce back of the real estate market
View Bonita Bay Beachfront Homes for Sale
Lori Helwing, an economist at BofA/Merrill Lynch, says the analysts there now expect a 2.1% slip in real gross domestic product (GDP) in 2009, 30 bps improved from the old -2.4% estimate. The US economics team also expects 2.6% growth in real GDP in 2010, up significantly from the old 1.8% estimate.
The revised projections come as the analysts see residential investment starting to bounce back.
Residential investment is now projected to decline 20.1% for all of 2009, nearly two full percentage points improved from the old -22% estimate. Residential investment is seen to grow 4.5% in 2010, a vast improvement over the 4% decline previously projected.
“We are now tracking positive sequential growth in 3Q after 3-1/2 years of declines and a 53% correction from the peak is set to add to growth over the second half” of 2009, Helwing says. “This stabilization in homebuilding and slightly positive home sales could continue going forward.” Source: nuwireinvestor.com
Estimates by analyists are now being revised from previous doom and gloom to a slighly more positive outlook. The real estate market is slowly starting to recover, because of this estimates of home prices will be impacted. Signs in Naples are pointing to the bounce back of the real estate market
View Bonita Bay Beachfront Homes for Sale
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