Real Estate Market Bulletin Blog

The latest news about the Massachusetts Housing Market
March 15, 2010

How far to the bottom?

Author: admin - Categories: Economic Indicators, Employment, Foreclosures, Real Estate News, home sales trends, real estate trends - Tags: , , ,

A number of conflicting reports suggest that while the housing market recovery has yet to start, we are closer to the end of the carnage than the beginning.

Recent stats:

  1. The Massachusetts Housing Partnership reported that a potential 65,000 or more homes could add to the state’s inventory of unsold homes due to pending foreclosures, or homes likely to be foreclosed on even after mortgage modifications.  This possible 2nd foreclosure wave would add as many homes to the market as are typically sold in a given year, suggesting further price depression.
  2. At the same time, the Fed’s March 3 Beige Book reports slow but steady strengthening of the economy, including stabilizing employment and rising wages, all of which will help reduce the chance of future foreclosures as those who still have their homes and jobs will be in a position to keep both.
  3. Ultimately, home prices are the best gauge of market health.  Those prices have been stopped declining in most parts of the US and are starting to rise in some, according to the Case Shiller index. See S&P PDF file with the current national home price rate of change.
March 14, 2009

Foreclosures Declining in Massachusetts and 15 other states

Author: admin - Categories: Foreclosures, Real Estate News, real estate trends - Tags: , , ,

Massachusetts ranked third among US states for the greatest decline in foreclosures in February as compared to February, 2008, according to a Smart Money article today (See Bright Spots on the Foreclosure Front).

However if you are still looking for bargains, they can and will be had for some time.  Locate foreclosed homes for sale in Massachusetts at http://www.foreclosurelistingtoday.com/

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