Home sales up in Miami last two months

The Miami Herald reported today that sales have been up the last two months. Buyers are still having problems getting financing, but since prices have gone down to 2004 levels, those that do qualify are jumping in.

http://www.miamiherald.com/news/broward/story/740881.html

 Mortgage defaults which don’t always end up in the banks title or actual foreclosure decreased, but it is thought that is an aberrationl. It is probable that the banks filed less foreclosures last month as they were waiting to see what was going to happen with the bailout. Either way, I’ve heard several economist say that the bottom will be in mid to end of 2009.

Map of States in Recession compared to last year

This video shows a map of the 27 states that are in recession right now.  6-9 months ago there were only 5, of which Florida was one of them. According to the National Association of Business Economics, housing prices in the real estate market will bottom mid 2009.

Technorati Tags: bottoming of housing prices, Economy