Positive Signs in the Housing Markets
Some Positive Signs Visible in the Housing Markets
Economic Stimulus Act of 2008 Signed Into Law -- Mortgage Availability Should Be Affected Positively
NEW YORK, NY--(Marketwire - March 3, 2008) - Bright spots appear within the negative outlook, according to the RPX Monthly Housing Market Report released today by Radar Logic Incorporated.
"Despite the continued flow of bad news from the housing markets, several of the cities tracked by RPX are sending positive signals," said Michael Feder, Chief Executive Officer of Radar Logic Incorporated.
Key Points of the December 2007 RPX Housing Market Report include:
-- For December 2007, of the 25 Metropolitan Statistical Areas examined, four residential markets showed price increases.
-- Transaction volumes have been a leading indicator for price declines in most cities. Boston, Cleveland, Detroit, Sacramento and San Diego are experiencing a recent increase in volume after a period of price declines.
-- The Economic Stimulus Act of 2008 is now law. Cities with higher price points may see increases in the liquidity of the residential mortgage market as a result, possibly sparking an end to the slide in housing prices.
To read the full release, click here.
