My Guess, they are coming from places like ,
Charlotte, N.C. and Las Vegas maybe Phoenix as well.
Seasonal strength in home sales was evident in February 2009,” said RadarLogic in its RPX Monthly Housing Market Report released today. “Transactions increased…13 MSAs posted their largest month-over-month increases since 2006.”
Sales in San Jose, Calif. saw the biggest year-over-year increase, climbing more than 43%, followed closely by Sacramento, and Los Angeles, Calif. In contrast, Charlotte, N.C. and Las Vegas, Nev. didn’t fare so well, as their transaction counts posted the largest drops at 56.9% and 55.7%, respectively. But month-over-month data painted a rosier picture, as only Philadelphia and Milwaukee experienced a decline in home transactions.
In the closely watched California housing market, buyers appear to have returned in February, likely attracted by prices not seen since 2001 and 2002, the report said. On a year-over-year basis, the total transaction count across the five California metro areas tracked by Radar Logic increased a significant 35%.
In the five California MSAs, sales outside of foreclosure jumped dramatically in February and outpaced increases in motivated sales, according to the report. As a result, motivated sales decreased as a share of total sales, though motivated sales continued to account for more than 40% of sales in each of the MSAs. Historically, since 2007, motivated sales’ share of total sales has increased in most months.
