The Wall Street Journal reports that Toll Brothers Inc. and Hovnanian Enterprises Inc., said their losses were shrinking compared to last year because buyers are coming back to the market announces James Hagerty and John Spence.
Other encouraging news came from HIS Global Insight, a research firm, which said home prices fell on average at an annual rate of 2.2 percent in the first quarter in 199 of 330 metropolitan areas. That compares with a 12.5 percent decline in the fourth quarter of 2008 in 312 metropolitan areas.
“While it’s too early to see a bottom of this housing downturn,” the report said, the latest data “may signal that the market is beginning to stabilize.”
‘I am personally experiencing meeting up with buyers who were looking in 2007, but who did not close on anything, coming back around to begin the search in earnest,’ adds Chrystal Safari of Peters and Associates, Inc.
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Join me for another of the Luxury Living Events this weekend in Montreux Old World Estates off Youngblood Road in south Charlotte and enjoy a ‘Meet the Builder’ Wine and Cheese. See ChrystalSafari.com,