Positive Real Estate News for the week of October 31, 2008
Home price declines slowed in August - http://www.inman.com/news/2008/10/24/home-price-declines-slowed-in-august
NAR: Sales up on improved affordability - http://www.inman.com/news/2008/10/24/nar-sales-improved-affordability - September sales of existing homes were up (5.5 percent from August and 1.4 percent from a year ago).
Builders Boost Sales - http://www.inman.com/news/2008/10/27/builders-boost-sales - According to the US Census Bureau and HUD new home sales unexpectedly rose 2.7% in September over August.
According to Forbes.com the Washington, DC marketplace is one of the real estate markets most likely to rebound. The markets with the strongest commercial real estate markets will be the most likely to rebound first. Washington, DC was listed in the top five markets to rebound quickly. With the government taking over banks and insurance companies, D.C. is one of the few cities where office vacancies will remain below 10%. The strong employment should keep people shopping, which will in turn help retail.
Kim Darwaza is a REALTOR with RE/MAX Allegiance serving the Northern Virginia suburbs of Washington, DC. To search the MLS for free please visit http://www.kimdarwaza.com.