Homes Sales Stabilizing

I received this news report yesterday from Planet Realtor:

"WASHINGTON -- July 12, 2006 -- Home sales are projected to ease modestly but should stay within a relatively narrow range over the balance of the year, according to the National Association of Realtors® (NAR).

"David Lereah, NAR’s chief economist, says the market shows signs of stabilizing. "The major housing indicators have been moving up and down within a reasonable range, which means the market should even-out just below present levels," he says. "At the same time, housing inventory levels are balanced in much of the country, so overall price appreciation will be at a normal rate. We should see home sales rise and fall month to month, but don’t look for any big shifts one way or the other.

"...NAR President Thomas M. Stevens says consumers who have been on the sidelines should feel more confident about the market normalization."

Even our Bradenton - Sarasota , Florida market seems to be showing some sign of stabilization. Sellers are becoming more realistic about pricing and buyers are recoginizing the bargains that are out there.