With all the gloom and doom in the market, I always like to highlight positive signs and “rays-of-light” in the real estate market. The real estate market IS going to stabilize as prices cannot fall forever. The worst thing new investors can do is give up because of fear and concern about the state of the real estate market.
Signs of Letup in Home Price Slide
The decline in residential property prices appears to be slowing, according to preliminary data from First American CoreLogic.
A preview of its November report shows that home prices fell 9.6 percent last month, compared with 10.4 percent in October and 11.2 percent in September.
“The consistent deceleration over the past two months with November indicating the same trend in price declines is encouraging because it could portend the trough in price declines,” says Mark Fleming, chief economist for First American CoreLogic.
Still, layoffs and the swollen supply of unsold homes remain a concern, he notes.
Source: American Banker (12/29/08)
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