The front page of USA Today had a major headline today “Sales of homes end long descent” declaring that the worst is behind us. This is because the media is reporting February’s numbers which as I reported on the first of this month, showed that Pending sales for the Central Coast were up as were other areas.
But, on USA Today’s website was this article saying that “The Standard & Poor’s/Case-Shiller index shows U.S. home prices fell 11.4% in January from a year ago, steepest drop since S&P started collecting data in 1987.”
While stronger sales do appear to be continuing this month, there is still a lot of inventory and the number of price changes continue to be pretty high. This just shows to me that there are Buyers out there that will come off the fence if they find a home that is priced right. For some sellers with homes on the market, it may take more price reductions to move their home but at least there are more Buyers out there looking now.