South Bay Real Estate Blog

Thursday, June 01, 2006

Softening Real Estate Market in Some Boom Areas

Here is an MSN Article entitled "The Boom is Ending With a Whimper." I don't know how long they'll keep it there, since I don't have any control over the content of the MSN site.

http://moneycentral.msn.com/content/Banking/Homebuyingguide/P85323.asp?GT1=8289

The article states that areas with recent record-breaking appreciation rates, such as Las Vegas, Florida, and Phoenix, have started to slow down. A leading indicator of a softening market is increasing number of homes on the market. A backlog of homes for sale is created while sellers think they can get get their price, even if there are no offers and few showings.

Click on the links below to see the appreciation rate in your area.

House Price Appreciation by Metro Area
Akron, OH - Los Angeles, CA
http://moneycentral.msn.com/content/Banking/Homebuyingguide/P85324.asp

Louisville, KY - Yuba City, CA
http://moneycentral.msn.com/content/Banking/Homebuyingguide/P85333.asp

To find an agent who can give you more specific information on real estate values in a particular area, send an email to Laurie@SouthBayHomeTeam.com and we'll tell you the agent we would use if we were buying, selling, or investing in that area.

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