Reports are very contradictory: some people are saying that sale prices are ion the rise, and market is recovering. But, Case-Shiller Home Price Index says that home values declined with 2.8% in January 2011 vs. January 2010.
My own observation are pretty much in line with the Case-Shiller: we are seeing a decline with an increased number of foreclosures.
One cause could be that buyers are not able to get new loans so easy as they use to get, and of course people are scared that market will continue to decline.
There is only one good sign: number of sales are on the rise: in March sales were 25% higher than January, which was slightly lower in sales volume than January of 2010. BUT, the sales in March of 2011 are 30.8% lower than March of 2010…..