While the nation’s housing market has bounced back from the depths of the recession, the nascent recovery has been slow and sporadic in many parts of the country, including here in the Bay Area. The question on everyone’s mind is, “When will the market return to normal?” No one knows for sure when that will happen (the definition of “normal” is rather subjective – it seems today’s market is the “new normal”), but there are a number of signs out there that we should be watching for – economic indicators that will point to a more robust recovery in the market.
On a macro-economic level, consumer confidence and unemployment levels are crucial, along with overall economic growth figures such as the nation’s GDP. Buyers won’t take the chance on purchasing a home if they’re out of work, or concerned they may be before long. If they don’t have confidence that things will be getting better, they’re not likely to move forward with a major purchase. (more…)
There are a number of economic factors that keep Bay Area prices higher than elsewhere in the nation, and that many believe will continue to do so for many years to come. A look at historical data provides an interesting glimpse at the stability of California real estate. (more…)
“Change has come to America.” Those were the eloquent words of Presidentelect Barack Obama during his November 4, 2008 presidential acceptance speech in Chicago. Following a three year declining real estate market, change couldn’t come sooner for most Americans, especially when it comes to the real estate sector. (more…)
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