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U.S. Real Estate Market

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Blog by Doug Treleaven | July 9th, 2008

South of the border,. the real estate downturn has been affecting many areas of the economy, but there is hope for a turnaround.

Home sales are expected to rise moderately in the next 6 months as a result of recent price declines and more affordable mortgages.

Bargain hunters have entered the market en masse, and NAR's (National Association of Realtors) pending home sales index a forward looking indicator based on contracts signed in April 2008, rose 6.3% since March 2008.

Overall affordability conditions are the best they've seen since the middle of the housing boom in 2004, but with far more choices.