Mixed Economic News Bodes Well For Real Estate Market

Here's an interesting post from fellow real estate investor Bryan Ellis's blog:

"Some “mixed” news was announced by the National Associations for Realtors today. But I think the news is FAR more positive than negative.

First, the “bad” news: In February, median home prices took a sharp dip of 8.2% nationally. Clearly, the carnage in the real estate market continued last month with a vengeance, as that drop is the sharpest in history.

But the silver lining is this: Buyers are returning to the market. Existing home sales increased 2.9% in February. That’s the first time in six months that there’s been any positive movement in existing home sales. This suggests to me that the prices are becoming too good for buyers to overlook. And that’s a very positive thing for the U.S. (and world) economy."

For the rest of the article,go here.