Housing Market Rebounds in 2009

Posted on Dec 11 in Cincinnati Real Estate, Property Value
Tagged: , , ,

New information from Marketwatch.com points to a slowing foreclosure rate in leading indicator states. Their conclusion is that the number of foreclosures is in decline due to some of the aggressive measures being taken by banks, and government agencies to keep families in their homes.

Their research shows a slight drop from 84,534 to 84,291 in the number of properties repossessed by lenders following foreclosure November over October. But that’s off nearly 21% from September’s 106,415 REO filings.  In California  Foreclosure Index numbers show REO filings in the state down to 15,978 in November. That is a decrease of 6.55% from October and off nearly 50% from September.

The hope is that as these foreclosure rates slow there will be fewer foreclosed homes on the market, which will help stabilize home values.  The article however does not take into account the overarching economic slow down. Although the major real estate challenges of 207-2008 are being resolved, I’m not sure if there is an eminent rebound. The Cincinnati real estate market remains relatively steady, with prices across the board lower than a few years ago and activity levels down as well. Our real estate values did not balloon like Florida, Arizona and California so subsequently we did not experience, for the most part, the bubble bursting.

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Comments

  1. cinplify.com

    Dec 11th, 2008

    Housing Market Rebounds in 2009…

    The foreclosure rate across the nation is going down. This could improve the local Cincinnati real estate market, and bring back home values….

  2. Real Estate Newbie Info » Blog Archive » Cincinnati Living Online » Blog Archive » Housing Market Rebounds …

    Dec 12th, 2008

    [...] unknown wrote an interesting post today onCincinnati Living Online » Blog Archive » Housing Market Rebounds …Here’s a quick excerptAlthough the major real estate challenges of 207-2008 are being resolved, I’m not sure if there is an eminent rebound. The Cincinnati real estate market remains relatively steady, with prices across the board lower than a few years ago … [...]

  3. Cincinnati Living Online » Blog Archive » First Time Home Buyer Profile

    Dec 15th, 2008

    [...] Housing Market Rebounds in 2009 [...]

  4. Life In Queen City »  First Time Home Buyer Profile

    Dec 18th, 2008

    [...] the Cincinnati Real Estate market recovery that is a very good thing. Every first time home buyer helps absorb homes from the current [...]

  5. Cincinnati Living Online » Blog Archive » Cincinnati Real Estate Market Picking Back Up

    Jan 20th, 2009

    [...] numbers are seasonal. As the spring approaches it will continue to be a buyers market as the Cincinnati real estate market rebounds.  As the foreclosures rate slows, the inventory in our area will diminish helping to maintain [...]

  6. Life In Queen City »  Cincinnati Real Estate Improving

    Jan 21st, 2009

    [...] numbers are seasonal. As the spring approaches it will continue to be a buyers market as the Cincinnati real estate market rebounds.  As the foreclosures rate slows, the inventory in our area will diminish helping to maintain [...]