The busiest season of the year for residential real estate is underway. Fresh data from a variety of convincing and reliable sources gives the market renewed hope. While home prices have indeed deteriorated, the silver lining underlying all that vanquished equity is that prices are now very attractive to buyers. As realistic values return to the market, so do buyers, and that is always good news for home values.
At the same time, banks—which have hamstrung the market for several months by freezing credit at a time when it was needed the most—are feeling more confident.