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“More homes get multiple offers; downturn may be nearing end” USA Today
Yes I know, to paraphrase the Bare Naked Ladies ” I live in Canada.”
But any positive news from the US, especially in Real Estate where the mess began, can only be good for Canada.
USA Today states:
“More homes for sale are attracting multiple offers as buyers pursue lower-price homes and banks low-ball asking prices to attract competing bids on foreclosures.
Multiple bids have picked up in recent months in California and other states hit hard by foreclosures and steep price drops, real estate executives say.”
According to Beth Peerce, treasurer of the California Association of Realtors “We are beginning to see the beginning of the end of a disaster time.”
Thanks to the more conservative (read sensible) lending attitude of Canadian banks the downturn here has been no where as bad as the US but undoubtedly buyer confidence has been hit and the number of sales if not prices have been down in the Georgian Triangle area. This has changed over the last 3 months and the more good economic news we hear from our neighbours across the border the more confidence will increase in our own real estate market.
