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Latest April Capital Region Real Estate Numbers

I’ll write more on this later, but I wanted to post the latest GCAR video on April’s positive real estate numbers. This is the fourth straight month of double digit increases in pending home sales, a great indicator that this positive four-month run will continue. Although one of the risk factors cited earlier this year as a potential headwind, the growing European financial crisis, now appears to be spreading across the continent. I only caution that this positive trend is not without some risk of faltering in 2012, if the Greece contagion is not contained. Our local Capital Region real estate market has been resilient, even in the face of the great recession, and I have no doubt given the strong local and regional economy we’ll be able to weather a European crisis. But there is no debating that the world markets do have a residual impact on the Capital Region real estate market. As we keep one eye on our Capital Region, we will also look to Europe in the coming weeks and months for further guidance (especially the June 17 Greek elections).