Market Expert predicts end of real estate slump

"While part of the real estate downturn is behind us now, the buyer's market will likely continue for at least two more years, foreclosures are likely to surge and "we're heading into a year with some more price declines," a real estate consultant told an audience of building-industry professionals on Thursday.

John Burns, a consultant who presented a housing market outlook during the annual Pacific Coast Builders Conference in San Francisco, said that a combination of factors, including low interest rates and unconventional mortgage products, dug deep into the pool of future home buyers during the prolonged real estate boom. And the market is still adjusting, he said...." from Real Estate Slump

April Pending Home Sales Index Fell

"The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in April, fell 3.2 percent to 101.4 from an upwardly revised level of 104.8 in March. The index registered 99.3 in February 2003...." Home Sales
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