“Although home prices are relatively flat, more metro areas are showing price gains with general improvement since bottoming-out in the fourth quarter of 2006,” he said. “Recent mortgage disruptions will hold back sales temporarily, but the fundamental momentum clearly suggests stabilizing price trends in many local markets.”
The meat of the article. Undeserving of the headline, I guess.
This is the NAR stating this. That is like listning to the FOrd Motor company on the quality of GM cars. I take whatever their cheerleaders say about the future as suspect they have been wrong to many time in the past.
I agree. Where I'm at in S. Cal most of us knew prices would level out, drop somewhat and stabalize. It was what needed to happen. Instead of 30 percent increases a year, they are now only rising about 3 percent which is closer to the norm.
Los Angeles-Long Beach-Santa Ana, CA $593,000 2.9%