Friday, Oct. 27, 2006

Alister Bull
Reuters News

Former Federal Reserve Chair Alan Greenspan told the Commercial Finance Association yesterday that housing prospects are looking up.

“Most of the negatives in housing are probably behind us," he said. "The fourth quarter should be reasonably good, certainly better than the third quarter."

Greenspan, who retired in January and who has been quiet up until now, also told the group, "There are early signs of stabilization, but it [the slowdown] is not over."

He said construction of new homes continues to outpace sales, but, in a good sign, buyers were "beginning to dig into the inventories of unsold new homes."

Labels: Corona, Foreclosure, Home Prices, Inland Empire, Loan Modification, Moreno Valley, Murrieta, Real Estate, Riverside, Short Sales, Statistics, Temecula