Around the United States, economists and real estate experts are seeing what they believe may be signs of improvement—however faint—in housing markets. However, many markets are still worsening.
Driven by the lowest mortgage rates in decades, falling prices of existing homes, and homes in foreclosure, some regions of the U.S.—particularly the West—are experiencing a slight easing of the housing crisis as inventory of existing homes shrinks. Could this be a sign the market has hit bottom? Read the story.
New homes appear to be doing better in the Chicago area, especially luxury homes. Some see increased activity and full-price sales as a sign that the market is turning around. But first-time home buyers remain hesitant to commit even to well-priced homes. Read the story.
Home sales and prices in the Hamptons, N.Y., dropped significantly in the fourth quarter of 2008—a result of financial industry layoffs. While the mid-range home market is stagnating, however, prices on Hamptons-area luxury homes have gone up. Read the story.
For the first time ever, the Home Builders Association of West Florida’s spring Parade of Homes will not include a high-end, technologically tricked-out Dream Home. Association leadership also predicts less participation from local custom builders, who can no longer afford to build on spec. Read the story.
