It looks like the housing recovery has been moving forward strongly in the Temecula and Murrieta area’s. This spring has shown frenzy buying on nice homes priced right. Buyers have been struggling to have success placing offers and getting beat out by all cash investors. That initial frenzy has seemed to die out some what as buyers are getting priced out of the market again and struggling with rising mortgage interest rates. This past week the stock market made a big tumble with word coming interest rates rising. This just shows how fragile the economy still is and how it is tied to the housing market.
Here is a link confirming my thoughts:
http://www.thestreet.com/story/11959587/1/housing-recovery-to-end-soon.html?puc=yahoo&cm_ven=YAHOO
What do you think?
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