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.
More foreclosures and short-sales are coming.
This happens regularly as banks are quick to raise rates when they receive economic data signaling a stronger economy and the potential for inflation.