Back to the topic – Banks unloaded crap last year, now better properties are coming to the market and buyers who have money and believe that they are getting a deal (and who feel somewhat financially secure) are buying BETTER properties at better prices. This doesn’t mean that prices are going up because you are comparing apples to oranges. Don’t forget the guys who bought properties in 2003-2005 which were terrible properties at high prices (bad locations, over-leveraged, realtors buying and trying to flip) walked away or were foreclosed on and were dropped in price dramatically, while now more normal/good properties are being sold at better than previous pricing.
