Originally Published 2007-08-21 09:09:07
A fellow Smart Guy from Austin sent me this report today.
"Although home prices are relatively flat, more metro areas are showing price gains with general improvement since bottoming out in the fourth quarter of 2006," says Lawrence Yun, a senior economist with NAR. "Recent mortgage disruptions will hold back sales temporarily, but the fundamental momentum clearly suggests stabilizing price trends in many local markets."
Don't forget, however, that the National Association of Realtors, who sponsored the data analysis, has a vested interest in generating and maintaining consumer confidence in real estate.
Of course, if you're reading this, chances are I'm preaching to the choir, in which case any real estate related news that doesn't have "meltdown" in the title is, I'm certain, quite welcome. :-)
On 2007-08-27 01:59:45 Kyle M. Stephens said:
Good point about the vested interest. The other thing is that national statistics don't mean a whole lot. You've really got to to look at the specific city and region.