West Leading US Out Of Home Sale Slump – Real Estate Investment
California Real Estate Investment
California is leading America’s real estate market out of its worst depression since 1930s.
The volume of home sales there have been up year-over-year for 13 months, according to DQNews.com. Sales in July hit the highest level of any month since August 2006. Median prices have risen for the past three months.
The rebound isn’t complete yet. Sales are still concentrated at the lower end of the market, especially foreclosed homes. Medium- and high-priced home sales still lag.
Banks who have been reluctant to put more of their foreclosures on the market are being asked by brokers to speed up the process. California and three other account for more than half of the America’s foreclosures. The speeding with of the foreclosure process will help stabilize the market quickly
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