According to Lawrence Yun, NAR chief economist, the Southern region has seen home sales rise 2.1 percent from a month ago.

This overall increase for the South was marked, however, by "substantial" declines in areas of the region that experienced booms in the early 2000's, that don't reflect by looking at the region as a whole. One such area was Sarasota, Florida.

And sales are still down substantially from last year -- due in part to the removal of many subprime loans from the market.

Carolyn Bubrig, a local expert in Mandeville, Louisiana, is reporting that "resale is stronger than new houses, now, and lots are for sale from builders rather than houses," She says, "More activity is occurring -- with buyers out looking."

In Austin, expert Bryan Greenleaf is reporting that "market conditions are good, sellers are getting their prices in about 3 months on market. And there are lots of newcomers driving the market."

Sylvia Medrano of Tetra Properties is seeing similar positive notes for Austin. She reports that now is a good time to buy -- as interest rates are low. She is urging Austinites not to listen to all the negative press and to know that Austin really hasn't been affected by the downturn.

And in nearby Houston, Texas, real estate expert Sharon Ettinger reports that "this is the best 1st quarter she has ever had -- selling 22 units. Last year Sharon sold 43 units all year."

So overall the Southern region seems to making positive strides this quarter -- with increased sales -- and even some remarkable markets -- like Houston.

Published: April 2, 2008

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