Ups and Downs

Remember back on August 19 when we tooted our own horn about predicting the next move in the broader real estate market? For months we'd been telling you that home sales would spike dramatically when prices got low enough and foreclosure rate rose high enough. It started back in August and it's only continuing as we near year end. Our belief is that this buying up of bargain property is the first necessary move toward the stabilization and slow recovery of the State's real estate market. The inventory is being appropriately reduced. When supply gets low enough, prices will flatten out. It will take time, but we believe we are sowing the seeds of recovery.