The front page of The Wall Street Journal on Wednesday stated, Home Prices Rise across the U.S
This same day, USA Today quoted that ”house prices rounded a corner”.
This initial increase might be small, but it is the first rise in three years
It is important to realize that this is talking about the national market; some areas are better than others. I do think that this proves that the market has bottomed out
For months people have been saying that they want to buy but they want to make sure that the market has bottomed out. I tend to think that it is hard to know where the bottom of the market is until it has turned around.
Most people wait until the market has increased 10%-12% before they buy.
How does this relate to Hilton Head? Our market is slower than the national market, but the important news is that we are finally getting some positive press.
We still have unbelievable values, a lot of foreclosures and we have people who really want to sell.
Just remember, time is a friend of the buyer and an enemy of the seller.