Archive for May 21st, 2008
Home sales see first monthly gain in 6 months
May 21, 2008
I’m drinking my coffee and seeing what’s new in the world via my handy RSS Reader NetNewsWire, and I came across this interesting article on SFGate.com:
The Bay Area housing market displayed its first positive sign in months as the volume of April sales rose by its highest percentage in at least 20 years. Real estate experts, however, warned that the trough of the real estate downturn still could lie ahead.
Yeah, I know, it’s the Bay Area, not Santa Cruz - but what happened in Santa Cruz mirrored what happened in the bay area - namely, sales were up sharply, as reported in the Santa Cruz Sentinel in their article on Santa Cruz April 2008 home sales on May 14. They didn’t quote me in that article, sniff, although the reporter, Jondi Gumz, did send me an e-mail asking me to weigh in, I guess I replied too late in the day or my comments weren’t pithy enough - or both.
What it all means is that it looks like we are getting near the bottom. We are probably not be there yet - except in Watsonville, where we definitely are at the bottom. Unless there’s a big fat recession with big job loss, which of course would probably signal a deepening spiral further downwards. I think 2008 is going to turn out to be the Year to Buy in Santa Cruz. Don’t let it pass you by.
Posted by SantaCruzBroker at 8:59am
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