the real estate market have dropped for a couple of years now. During the past year, the better housing market, was in fact flat when house prices do not increase or decrease, and the sales of homes was very steady with the previous year’s sales.
This means that the rest of the market, it was to crash and burn up. Many communities throughout the country had the home foreclosed on because of bad financial methods by mortgage lenders, and, possibly, some real estate brokers. Suddenly, there were many houses whose values were not matched by the amount they pay on a loan, and in some cases, people abandoned their homes, because the banks would not negotiate with them to try to put things in balance.
so, finally, good to see good news reported in some areas across the country. We would not have seen the news like this, even a year ago. And, even if, in general, we are still not sure about the real estate market is truly ready to rebound for all of these communities give everyone else something to look forward to.
For example, in Florida, the housing market has been hit hard by bad loan practices and bank closures. It is therefore with pleasure that the Orlando Regional realtor Association released figures showing that they had sold 38% more homes in May than in April, and 44 per cent more than in the same month of the previous year. They did moderate figure to mention that, in the majority, owned by the bank or distressed sale, and that property prices in general still fell to 38.5 per cent, but at least something is better. That, in addition to more than doubling the number of homes sold waiting to be closed, which they consider indicates an improvement in the market.
in Des Moines, Iowa area are also reported good growth numbers. Even if the global value of the last year, a decrease of 4% from May of this year, showed an increase of 21% compared with the month of April sales, including an increase in the price of the homes that are for sale. The increase was 10% higher than last year, 23 percent higher than April. They thought that the majority of the buyers was on the way into the house rather than be a first time home buyer, but still believed that the $ 8,000 tax credits, was a big help.
the Detroit area, which has been seriously devastated economically by the collapse of the auto industry and manufacturing in general, showed an increase of 13% in the whole region, including an increase of 10.7 per cent in May compared with the previous year. Pending sales in Detroit is down around 8%, but for the rest of the county, the lowest value is Wayne 9,2%, with the high, to be 39.4% in Macomb. In this area, the sale is attributed, mainly, for the first time home buyer.
This shows that there are areas throughout the country, which was in a difficult situation and condition that are easy to show signs of some form of recovery. We can only hope that the rest of the economy, shows the same type of growth in the real estate seems to be to show, as this is the only way to get home sales can increase even more.
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