Apparently area home prices stopped declining in the second quarter and remained relatively flat. I suppose you could call this good news. Although I wouldn’t expect the markets to rebound into positive territory exceptionally quickly.
Of course the second quarter ends in june which is when people typically begin to make their real estate purchases and relocations. So perhaps we may even see a little uptick in the third quarter. Still I wouldn’t expect a strong rebound for some time. People will still be cautious.
Most likely the fed will begin raising rates soon. This will probably also dampen home buying.
