The fall could see housing rise

Posted by Bonnie Martin Designated Broker on Tuesday, September 2nd, 2014 at 9:40am.

houseinhand_voronin_450homes.yahoo.com - Autumn is historically the start of the slow season for home sales, but after a sluggish spring and summer, wrought with still-tight supply and higher costs, the stage may be set for a small rebound in U.S. housing this fall, at least according to a new report from Redfin, a real estate brokerage.

More sellers are lowering their price expectations, because the number of homes that sold above list price in July was down nearly 26 percent from a year ago, noted the Redfin report. That is the biggest drop of the year. Lower prices, still-low mortgage rates and increasing supply could push sales higher.

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