Fundamentals and an Upswing

It appears that our perception of an improving market is supported by some industry experts. As activity increased here on the Coast in Q1, it seems to have done the same nationwide as a whole.

The following quote comes from Camille Kazas' newsletter - she can be found at North American Title (www.nat.com) in Sebastopol...

Existing-home sales rose strongly in February according to the National Association of Realtors®. February’s increase was the biggest monthly rise in three years – matching the 3.9 percent sales of March 2004.

Here’s what some industry experts are saying:

David Lereah, NAR’s chief economist - “Fundamentals have improved in the housing market and buyers see a window now with historically-low mortgage interest rates and competitive pricing by sellers.”
NAR President Pat Combs - “Overall, home prices should rise slowly this year, and many buyers have an opportunity now that was only a dream during the five-year boom.”
Federal Reserve Chairman Ben Bernanke -"Overall, the economy appears likely to continue to expand at a moderate pace over coming quarters.”
The potential for investing in a new home or income property is excellent now.