Rate of Local 'Distressed' Sales Dips
Wednesday, June 15, 2011
This is the headline in The Desert Sun, our local newspaper. Sales of distressed properties in the desert were less in May compared to the same month last year, which is an encouraging sign that could help begin to stabilize home prices and draw buyers and sellers back into the lackluster market. Greg Berkemer, CDAR executive vice president, said the drop in the number of distressed properties as a percentage of overall valley home sales, marks a move toward market recovery when "fair-market transactions" will again dominate the real estate scene. For more information log on to www.MyDesert.com.
