Buyers………..“What are You Waiting For?”

As reported July 21, 2009 by RISMEDIA, a leader in real estate information systems, the U.S. housing market continues to show signs of stabilization with a drop in the number of Multiple Listing Service (MLS)-listed homes for the twelfth consecutive month. The number of single family homes and condos listed for sale according to MLS data decreased in June 2009 from May by 2.1%, bringing the total number of active listings in 28 major U.S. markets to 696,858, according to national real estate brokerage

California is seeing the most dramatic inventory declines with massive year-over-year inventory reductions: Los Angeles saw a 53.9% decrease year-over-year while Bakersfield/Fresno tracked a 56.2% decrease.

Also reported in the Los Angeles Times this past week, Home Prices are looking UP! The median value rose 6.4% in June from May, and fewer than half the sales were foreclosures. Los Angeles economist, Christopher Thornberg, who was an early predictor of the housing bubble, went on to say, “I think we can now say with a fair degree of confidence the pace of real home price declines has slowed DRAMATICALLY.”

In the Coachella Valley, which reflects our market, home sales rose 2.8% in April and 3.5% in May. In another positive sign, valley median home prices rose by $5000 this past month. So my question to you buyers sitting on the fence, “What are You Waiting For?”

Let’s not forget about the tax benefits of buying now. In addition, if you are considering buying a ‘new home’ CA has a $10,000 tax credit you should know about.

Would you like to make a comment on this article? At the end of each of these weekly messages, there’s a place at the end of each article for you to add comments. Just Click on “No Comment,” it will open up and you can write your comments here. It’s a great place for you to “let YOUR thoughts be known on the various articles written. Be My Guest………I‘d love to hear from you! Others would too!

Brought to You By Your Favorite Realtor,
Nancy Hankin
www.PalmSpringsHomesAndEstates.com