“Affordability of homes, which is a function of prices and interest rates, is at levels we haven’t seen for decades. This area is poised for recovery and when it does improve, prices will increase.”
“Cautious Optimism – As we move toward recovery the number of listings is still low. Buyers are finding it hard to find the right home and there are more multiple offer situations. The market is not yet recovered but we are heading in that direction. Confidence in the market is key and if you are looking at the local real estate market your optimism should be rising.”
These three quotes were written by me six months ago. At that time the signs were in place for a good year ahead but after 3 years of a lackluster market it was hard to blow the trumpet too hard. After the first six months of 2012 it is clear that the market has gone through a major shift. We have broken a cycle. To read more about what the market has done over the past six months view the slideshow below.