Our market experts in the Northeastern United States are trying to put a positive spin on what continues to be a downward-trending market.

Bill Anderson in Dover, Massachusetts says that his market continues to show signs of downward pressure, but there are some signs for an improved market.

Inventories are lower and mortgage applications are increasing, he says, and days on the market are stabilizing.

And a jump in potential buyers at open houses reflects pent-up demand in his market.

In Cape Elizabeth, Maine Jay Weinberg is reporting that his office saw over 60 properties go under contract last month.

He attributes this bump to continued low interest rates and the great selection of properties in most areas.

Most importantly, Weinberg says that most sellers are starting to realize how they're going to have to price their homes to get them sold.

And moving over to Manchester, Maine, market expert Pat Ladd says that there is still a wealth of inventory available in all price ranges.

The scarcity of buyers continues to make this a buyers market, she says, and the vacation home market remains strong.

That's all for the Northeast Regional Report this week. Be sure to check back to see how the market is doing in your area.

Published: May 9, 2008

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