Today's real estate market shows slide improvement in number of houses/condos/apartments sold up to day.
Did the first time home buyer credit caused it?
It was definitely combination of both: the buyers credit and the real estate prices hitting bottom.
Selling real estate for the past 18 years in Tampa Bay, I can tell that we are getting close to mid of 1990's housing prices, but mostly with the smaller houses in the less attractive areas and the condo/apartment's which showed the worst drop in value.
Here are the other reasons in my opinion:
- low mortgage interest
- deflated home prices equal good bargains
- move-up buyers credit
It will take a long time for the housing market to even come close to 2003 value.
Gina
