A new article by the Wall Street Journal suggests that the residential real estate market may be stabilizing.
Contributing to this is demand for more expensive homes and the fact that foreclosed properties are not being sold at bargain-basement rates:
Overall, home prices declined 0.7% in the first quarter of 2010 to an average of $166,100, the lowest first-quarter national median price since 2002, when the average was $158,600 according to a report by the National Association of Realtors. However, there was wide variation by region, with median prices up 9% in the Northeast and down 8% in West.
This regional variant reflects what we have observed. Check out the latest For Sale and Sold statistics for Worcester County, which include Leominster and Fitchburg:
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