Signs of Life from the Real Estate Market

Prashant Gopal, a reporter for BusinessWeek.com reports:

In ZIP codes across the country, as once-inflated property prices bottom out housing sales are increasing dramatically.

Erick Blackwelder, associate broker with EXIT [1st Choice] Realty in Woodbridge [VA], said buyers have flocked to the market and have already bought many of the foreclosed homes that were in good shape. The remaining foreclosures are largely "junk," he said.

"It started in April 2008," Blackwelder said. "It was like all of a sudden, somebody flicked on a light switch and there were buyers galore."

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