Greenspan Speaks Up On The Housing Market
I received this article from Realtor Magazine and thought it was interesting.
Former Federal Reserve Chair Alan Greenspan told the Commercial Finance Association yesterday that housing prospects are looking up. “Most of the negatives in housing are probably behind us. The fourth quarter should be reasonably good, certainly better than the third quarter.” Greenspan who retired in January and who has been quiet up until now, also told the group, “There are early signs of stabilization, but it [the slowdown] is not over.”
He said construction of new homes continues to outpace sales, but, in a good sign, buyers were “beginning to dig into the inventories of unsold new homes.”
–Reuters News, Alister Bull (10/26/2006)
There are positive signs of the market turning here in Naples. Our central office of Downing-Frye Realty has shown an increase in both showings and contracts this month. Visitors and snowbirds from up north are arriving a little earlier this year and that is always good for the local economy. Restaurants, tourist attractions are doing well and the real estate market usually follows in stride. We are getting a lot of increased traffic on our RuthBethem.com website and that also is a good indicator that people are looking again and are getting ready to enter the market. Bottom line is that people want to live in Naples, Florida.
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