Our very tentative Winter has given way, officially today, to Spring.
That means it's time to watch for the "spring bounce" in the Manhattan Beach real estate market.
In the coming days, MBC will post some data from the past year to illustrate the rough sledding we've had. Lots of sellers got haircuts last year. What's in store this year? Price increases
MBC will also try to feature a few snapshots of data along the way of listing and sales activity in the area.
As we prepare for our bounce, MBC notes this unfortunate turn of sentiment by the Fed:
Jan. 31, 2007, meeting notes: "[S]ome tentative signs of stabilization have appeared in the housing market."
March 21, 2007, meeting notes: "[T]he adjustment in the housing sector is ongoing."MBC translation:
In January, it looked like maybe things would settle out and be OK. By March, more of us were saying "uh-oh."
But remember, they were looking at the national housing market, and all real estate is local!