Monday, April 23, 2012

Real Estate Market

Real EstateReal Estate (Photo credit: allan.hane)It's hard to believe that anyone would have anything good to say about the United States real estate market, but that's exactly what's covering the news. Newspapers and media outlets from CNN and the New York times to the Unionville Times are projecting positive growth in home sales and home prices. Those are two numbers that any economist would see as negativity correlated. Why the sudden boom? Well there are many reasons, but here are some of the biggest:
The number of foreclosures is finally on the decline, a hangover that is starting to go away since 2008. That means that there are fewer homes on the market, meaning prices will be increased and more home owners will be more willing to sell their homes for agreeable prices. This is mostly good news all around as home sellers and real estate agents get the prices they want, and there are enough houses on the market as it is, so home buyers don't see much of any loss.
One hot real estate market at the moment would be the Albany Oregon real estate market. Located out in central Oregon, this once sleepy town is now the center of new businesses and industries. Located nearby is Corvallis, which has some great homes for sale in Corvallis Oregon. Don't miss out on some of these niche markets if you're an investor!