Runningrealtor's Blog

Are There Obvious Signs of a Recovering Real Estate Market?

Do we see signs of an improving real estate market in the Ann Arbor area?  MSN shows 8 signs of a recovering market in this article http://realestate.msn.com/article.aspx?cp-documentid=23729984and looking at what AnnArbor.com has to say about local numbers http://www.annarbor.com/business-review/ann-arbor-area-housing-market-shows-continued-improvement-in-february/  it appears we should be heading into recovery mode.  Both articles show positive information which includes, among other factors, reduced foreclosure and short sale inventory. 

The homebuyer credits expire April 30, 2010.  Once we get to the third quarter and the credits have long expired, we will have a new group of buyers and sellers who, if confident the market is improving, will keep things moving through the end of the year. 

Locally the Ann Arbor market is showing many multiple offer situations, bidding wars and shorter on market times which appears to be a confidence booster for sellers who have been waiting for the market turn to sell their homes.

SOLD!