In cities where housing prices have fallen dramatically, bargain hunters are swooping in and pushing sales upward.
Boston, Cleveland, Detroit, Sacramento, and San Diego have all seen sales increases recently after a period of price declines, according to a March report by Radar Logic, a real estate data and analytics firm. In Detroit, sales of homes and condos rose 12.8 percent in February compared with a year ago, according to Realcomp.
The most aggressive shoppers include investors, particularly nationally based ones who are cherry-picking single-family homes in good neighborhoods all over the country.
International buyers also see U.S. home prices as a bargain. With the dollar down against the Euro, European buyers get particularly good deals, but buyers from Asia and Canada also are active, according to international real estate practitioners.
First-time homebuyers are finding this a good time to dip toes in the water. In November 2007, 39 percent of purchasers were first-time homebuyers, according to the NATIONAL ASSOCIATION OF REALTORS®.
Source: USA Today, Stephanie Armour (04/17/2008)
3 responses so far ↓
West Toronto realtor // April 19, 2008 at 6:59 pm |
They must to do something in order to survive. I am working as a West Toronto realtor. Surely I am very glad that our market is not affected by the crisis so far but on the other hand I have noticed some kind of stagnation. It is a long time ago when some new techniques were introduced. It is still old school selling here. We have tried to figure out something new but it is very hard because of very strict law and rules.
mollytrecek // April 23, 2008 at 2:25 am |
It is nice to start seeing a little recovery in the market. It is different all over the valley. I live and work in Anthem, AZ and have shown many homes that I would consider terrific bargins. This is such a great opportunity if you are a buyer. North Phoenix is experiencing a lot of growth… an 8 lane highway (I-17) for one thing. It is beautiful and when you buy in Anthem you buy a lifestyle not just another cookie cutter house. http://www.AnthemAZGuide.com
Molly Trecek
- James Bond filming at Lake Garda - East Bay Realtor on the Scene - San Ramon Danville Dublin CA Real Estate // April 24, 2008 at 2:50 pm |
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