Housing Recovery: Around the Corner?

HousingWire reports Radar Logic, which tracks home values in 25 metropolitan areas, says while home prices fell 4.4 percent for the year ending September 2011, the survey shows home sales increased 15.4 percent in those markets year-over-year in Sept., the largest gain for the month of Sept. since 2003. Michael Feder, president and CEO of Radar Logic, said, “Activity is stable, price declines have slowed and it is unlikely that many more borrowers will enter default or that many more homes will go ‘underwater.’ While this may not be the beginning of a recovery, the data suggest it may well be the beginning of an equilibrium, which if the case, should and probably will boost buyer confidence. If it does, a recovery may not be far away.”

(Graphic credit: HousingWire)

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