Where Bottom-Fishers are Fishing?by
Home search site Realtor.com gives us a list of the markets showing the biggest increase in searches on their site in July, versus the same month a year ago. It’s worth noting that these markets are among the hardest hit by the housing bust. Las Vegas, Miami, Naples, Sacramento. Realtor.com’s overall traffic is up 22% this year. These cities are seeing increases double or even quadruple that.
What this tells you is that a lot of people are starting to bottom-fish in these markets. Whether that leads to a bottom in housing prices remains to be seen.
Stockton-Lodi, CA 140.9% Las Vegas, NV 93.9% Riverside-San Bernardino, CA 86.3% Oakland, CA 73.6% San Jose, CA 71.4% Fort Myers-Cape Coral, FL 69.5% Naples, FL 66.2% Sacramento, CA 65.0% Orange County, CA 62.8% Miami, FL 56.7%