By Lily Leung
6:37 p.m., June 13, 2011
A year ago we were talking about sales reaching a four-year high as buyers rushed to take advantage of expiring federal homebuyer tax credits. Now sales are stuck at a three-year low. The government stimulus is long gone and some of the fundamental drivers of housing demand have yet to strengthen enough to lift sales to even average levels. Some of the key culprits are weak job growth, tight credit and a hesitancy among potential buyers and sellers, who question whether this is the best time to make their move.
--John Walsh, president of San Diego-based DataQuick Information Systems, which culls and analyzes real estate data.
Source: SignOnSanDiego
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