Well, I hope this is not wishful thinking on the part of the economists. I have heard the same prediction in the beginning of 2011 and that took us nowhere fast.
Yesterday morning on CNBC it was announced that the inventory of existing homes fell to about a six months inventory which is extremely encouraging. The goal is to have an inventory of about a four months supply. If home sales continue at the pace they are going, we might actually see increase in home prices by the second quarter of 2012.
I do want to add that the majority of home sales reported on CNBC was attributed to investor buying. Also, over 80 percent of regular home sales fell through due to mortgage difficulties. Banks are still not giving mortgages to people on a regular basis.
Hope you find this article interesting.
Existing Home Sales
Welcome to Atlanta Legacy | Podland Properties -where we acquire, completely renovate and rent properties to qualified residents. Our goal is to meet our residents needs with providing higher quality homes that include granite counter tops, natural stone back splashes, hardwood floors (in some), neutral carpets, matching appliance sets and washable paint in most homes. We strive to meet
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