Perhaps the bright blue sky outside Thursday foretold better things to come. But with home prices continuing their five-year downward spiral, those in the know made no effort to sugarcoat the local real estate forecast for 2011.
Reviewing 2010 and giving their hazy best guesses for the new year, Rogue Valley Association of Realtors representatives shared their thoughts with the assembled media.
There was a slight increase in existing home sales in 2010 and, mercifully, distressed property — foreclosures and short sales — accounted for less than half of the transactions. But there has been so little new construction that the Southern Oregon Multiple Listing Service considered dropping it from its periodical summaries until renewed activity warrants inclusion.
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