The sand states continue to suffer though Florida saw a 42-month low in foreclosures signaling the worst might be over for the sunshine state. Foreclosures are expected to remain very high over the next 12-18 months and investors should consider how localized rates of foreclosure affect their strategy. For example, those flipping properties in Nevada might see margins squeezed with the continued wave being felt there.
This week showed continued bleeding in the housing market with higher interest rates, continued high foreclosures, and declining home prices. Still the market fundamentals are improving, even if marginally. Thinking forward, markets are becoming even more localized as some show signs of recovery. Over the last 2 years most markets have been significantly down so to see price increases in many areas and foreclosures slowing shows that markets are ready to recover.
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