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Granite Bay Homes & Lifestyle quick real estate commentary for the month of February 2010:

January began the new decade with indications that the economy is beginning to gain traction. Real GDP grew by 2.2 percent in the third quarter of 2009 and preliminary signals point to a continued positive trend for the following quarter. GDP is a measure of total products and services produced by a country and indicates the health of the country's economy. 

A dip in home sales in December was due in large part to timing.  First time buyers that would have liked to close in December but qualified for the tax credit, bumped their timeline up in order to cash in.  News of the credit’s extension reached many of them after their plans to close in December were set. 

Interest rates are back below 5% and home prices are up compared to last year. The government continues to attempt to minimize the impact of troubled homeowners by continuing to improve its foreclosure prevention program and  has also taken steps to help foreclosures buyers purchase faster. 

Although the unemployment rate is expected to stay high as jobs increase modestly,  experts expect the economy to continue to grow in 2010.

Overall I would say that the real estate outlook for 2010 seems to be gaining traction.

Have a great one!

-Jason