A prospect wrote to me by email today, “It would be nice to see some positive news about the real estate market in Florida.”

I gave him a call to let him know there’s no good news yet. Most are growing weary with the bad news.

Then I read this today: “The U.S. housing market isn’t going to get any better this year, says David Berson, vice president and chief economist at Fannie Mae.

“Berson expects new and existing home sales to decline by 10.2 percent in 2007 to the lowest level since 2002. Single-family starts are expected to fall 21.7 percent….He predicts that 2006 and 2007 will together show the largest drop in sales since the housing slowdown of 1989-1991.

“Berson says it will take until 2008 before unsold inventories have fallen enough to relieve downward pressure on house prices. Source: Reuters News (07/18/2007)”

===============
I’m Dan Forbes and I want to be your Realtor and resource for all your Bradenton Real Estate needs.