Fixer upper listing properties might be selling for low prices, but most Boston residents prefer rental dwellings. The rental market is growing in the region.
Data for the second quarter showed fewer foreclosed homes at auctions and distressed properties accounting for total home sales in the U.S. The decline was attributed to the tax credit.
Market analysts expect foreclosure listings, including fixer upper listings, to continue to expand in 2011 in California. However, some stated that this does not mean that the state is not recovering.
The number of San Diego distressed properties dropped in May as the economy started to rebound. Foreclosure filings decreased by 30 percent over the year to a total of 5,386 in the San Diego metro area.
Foreclosed home listings have taken a huge percentage of home sales in California in the past. Some areas, however, are posting higher sales in pricier segments.
Federal tax credits for homebuyers are gone, but Atlanta home builders believe that the new home market will pick up. They predict increased activity in 2011.
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