Lowell Deeds

Today’s New York Times reports that regions of the country hit earliest and hardest by the collapse of the real estate market (Florida and California in particular) are showing the signs of a rebound in sales and prices. Of course, what passes for good news - “a period of price stagnation would boost spirits” - is still pretty pathetic. One interesting note was that the first indicator of a turnaround, or at least a slowing of the decline, is a drop in the number of foreclosures. If this is true, it’s good news for Lowell where the number of foreclosures seen in April 2009 was 46% less than the number seen last April.