In comparison to six months ago, over half of member brokers responding to a recent Leading Real Estate Companies of the World® 'Housing Beat' survey are reporting one bit of good news with declining housing inventory in their markets. And while only 9 percent are seeing an increase in closings, 26 percent are experiencing more pending sales (homes under contract but not yet closed), although many of those contracts are for foreclosure properties.
Meanwhile, nearly a third of brokers are seeing more open house and Web site activity, and 54 percent are seeing much more flexibility from banks in responding to short-sale inquiries. With more affordable prices, it's no surprise that nearly 90 percent of brokers are experiencing more activity with first-time buyers, with only 22 percent reporting the same for move-up buyers and 14 percent for high-end buyers. In many markets, there are rising sales to investors who are taking advantage of opportunities by buying at bargain-basement prices.
Some 72 percent of LeadingRE respondents believe that the original allocation of government funds to provide credit relief to banks was necessary, although most qualified their responses with a strong tone of frustration by noting that the disposition of the funds has bee"
No comments:
Post a Comment