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As prices stabilize, will buyers reappear?

Posted by Scott Van Voorhis January 31, 2012 05:33 AM

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For a real estate rebound to take hold, prices don't have to soar. They simply have to get off what has been a relentlessly downward track.

There are signs that this is already happening in Greater Boston, with some towns having actually seen prices rise over the past year while others saw modest declines.

Sales are now starting to rise again, though it's a long climb up from anemic levels not seen since the early 1990s.

Crucially, more buyers may also encourage more sellers to take a chance - right now, as my Monday post noted, the pickings are pretty slim for house hunters right now.

It's hard for the market to gain traction when there is not much to look at.

Two reports due out this morning may show signs of improvement in the national housing picture, Bloomberg reports.

Thirty economists surveyed by the financial news service are projecting a 3.3 percent decline in S&P/Case-Shiller home price index when it is released this morning. If so, that would be the smallest decline since early 2011.

Meanwhile, another report due out at 10 a.m. may show a boost in consumer confidence, Bloomberg reports.

I'll file an update after the latest numbers come out.

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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