With depressed house prices at 56% lower than three years ago, single family homes and condominiums are being snatched up at a rapid rate in Las Vegas. It recorded a 87% increase in June compared to the same period last year. Affordable house prices, and low interest mortgage rates have enticed buyers to get off the fence and take action in acquiring houses as home and investments.
http://www.reuters.com/article/bondsNews/idUSN0733665820090707
Home sales in the metropolitan Phoenix has climbed 11% as compared to the previous month. It is the 6th straight month of steady increases. Housing inventory continues to move as demand is currently greater than supply.
http://www.azcentral.com/business/realestate/articles/2009/07/08/20090708biz-catherine0709.html
Home sales in Jackson County Oregon have experienced a new revival as buyers are sellers are participating in more transactions with home prices still lower than last years average. Buyers are showing interest in houses priced at the $300,000 – $500,000 range. It is also a good time to lock in on lower mortgage rates.
http://www.mailtribune.com/apps/pbcs.dll/article?AID=/20090708/BIZ/907080311/-1/NEWSMAP
California homes have come down in prices, and mortgage rates have become favorable for potential home owners. This has spurred a recent increase of home sales in California by 27% after the previous two year decline.
http://www.housingwire.com/2009/07/08/low-prices-rates-spur-california-home-sales/
Home prices in high risk metropolitan areas including Miami, Fort Lauderdale, and West Palm Beach are facing a steady price decline, and expected to continue into 2011 Q1. Weaker consumer demand combined with foreclosures and employment uncertainty contributed to the depressed residential real estate market in these areas.
http://www.bizjournals.com/southflorida/stories/2009/07/06/daily28.html
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