Press Release: May 9, 2016 -

Nearly Half of Home Purchases Are Distressed Properties,

Latest Campbell/Inside Mortgage Finance Survey Shows

 

Survey respondents reported mixed opinions on traffic for the winter and spring housing market. “January, February and March sales were characterized by a wait and see attitude of buyers. Both investors and first time homebuyers are fearful of what is going on nationally with Washington, D.C. Both the gas prices and the weather influenced the local market.” stated an agent in California.”

”Our market bottomed out last year and started to rise slowly. January was flat with activity and inventory. February saw more buyers coming out. March has seen a sharp increase of new listings, approximately double what we had in February. It appears that we should have a marked increase in activity as we continue in this strong season of the year, “reported an agent in Colorado.

A significant number of respondents commented on the problems that the high proportion of distressed properties is causing for the appraisal system. When many properties are distressed, it is often difficult for appraisers to find recently sold non-distressed properties to gauge value.

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