Research finds lower homebuyer activity, increased distress
April 27th, 2011 2:52am
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Distressed properties make up nearly half of the housing availability in the U.S., according to research from Campbell's HousingPulse tracking survey.That trend is likely to continue in the foreseeable future, the study found, noting that a long backlog of mortgage defaults and foreclosed properties has yet to make its way through the market's pipeline.
Campbell's Housing Traffic Index for March, which measures activity among owner-occupant sales, was slower than the month before, reflecting what some experts characterize as a "wait and see" attitude toward the property market.
"Our market bottomed out last year and started to rise slowly. January was flat with activity and inventory. February saw more buyers coming out. March has seen a sharp increase of new listings, approximately double what we had in February. It appears that we should have a marked increase in activity as we continue in this strong season of the year," a Colorado agent told Campbell's.
Houston properties has been relatively unscathed, according to the Houston Association of Realtors, but slight dips in sales were still seen.
Courtesy of 2M Realty News
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