They reported Sep sales increases of 8% in the region and 17% in S.C. County from Sep of ’08.
As potential sellers hear that values are firming, they are more apt to wait (hoping to get a better price later) rather than sell their home now.
Our belief remains that the uptick in economic activity and the real estate market will be short lived.
If homeowners believe that the economy is improving, they will often decide to wait for a better market and/or higher sales prices to put their homes up for sale.
Home buyers are back in action in Palo Alto and Los Altos market areas.