According to the President of Integrated Asset Services, “It’s too soon to call this a turn in the housing market, particularly given all the political and regulatory uncertainties, I think that we’re still in for some difficult spells ahead, but we are seeing a certain kind of pricing equilibrium in several important markets. That’s encouraging for the long term.”
San Diego, Boston, Chicago, and Denver now show price increases in home prices.
In April, the California counties of Monterey, San Bernadino, Ventura, Riverside, Sacramento, Sonoma and King, reported increased home prices. Even San Diego with one of the largest percentage drops since the height of the market, is now reporting stable prices.
However, if interest rates continue to rise this could contribute to foreclosure numbers and the market could decline again.