The positive indicators seen in housing markets across the country are not a mirage, but a true recovery, according to RealtyTrac VP Daren Blomquist and a panel of six real estate professionals who spoke during a roundtable discussion Friday. RealtyTrac ranked 100 markets in terms of recovery and found a smattering of markets from all regions in the top 20. Blomquist said the defining factors for where a market landed on the ranks were location and employment. Inland Florida cities tended to rank near the bottom, while coastal cities ranked near the top. Another major factor was judicial status. States that rely on a judicial process to complete foreclosures tend to work through their foreclosure inventory more slowly and in turn, are making slower strides toward recovery. Real estate professionals also pointed to rising inventory, declining numbers of underwater borrowers, and pent-up demand as factors helping their local markets recover. [Read this article]
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