Is the Worst Over?

On August 25, 2009, The S&P Case-Shiller Home Price Index indicated the the home sales prices are moderating at a faster rate than expected.

On September 1, 2009 the Associated Press reported that the Housing and Manufacturing sectors are showing signs of strength. Home construction, pending home sale and manufacturing are all at their highest levels in 10 to 18 months.

Consumer Confidence rebounded in August after a slight decline in July.

 July Pending Home Sales are at their highest level in 2 years and are rebounding faster than expected. “The overall trend toward stabilization is undeniable at this point,” wrote Mike Larson, real estate analyst at Weiss Research. According to the National Association of Realtors “Pending Home Sales Are on a Record Roll”.

According to Forbes.com, Santa Barbara is among the top 10 best cities for a housing recovery.

For the 4th straight month in a row, new home sales surged and for the first time in 3 years home prices post quarterly rise.

Federal Reserve Chair, Ben Bernanke, has stated that he believes that the worst is over.

According to a recent survey by Relocation.com, people are moving for happier reasons.

Within the next week I will be posting statistics and graphs related directly to the Santa Ynez Valley real estate market on my web site, www.HomesOfSantaYnez.com.

Jenaé Johnson

Broker Associate

Mobile: 805.452.9812

Village Properties

Lic# 01308742