Is Real Estate Slump Subsiding?

Local real estate agents are looking for 2007 to begin a slow up tick in home sales and prices.

In 2006 homes and condominiums continued their slow sales. What had been a sellers market for the last few years in our area has turned into a buyers market.

Local realtors believe the market should stabilize in 2007 and even make a come back with some modest gains this year. However in the next few months we could still see a slight decline in home prices

Realtor Barry Zweig hopes the worst is over. "I think in the next six months we will see a stagnation in prices, we will not see a decline anymore. But I don t see a rapid increase in price. I do think 2007 will see a price increase of 3 to 5 to 6 percent in the area."

Other experts believe the new airport will be a big boost for the housing market.