by WLOX staff
BILOXI, MS (WLOX)- Real Estate Broker Ray Gonzales is in his Gulfport office going over numbers from real estate deals in South Mississippi. Gonzales tracks trends and looks for data that tells a story of what's happening on the housing front. "It seems like we're coming to the end of a downturn" says Gonzales as he analyzes numbers from September.
The coast has been battling hurricane Katrina recovery issues, a near collapse of the national housing market and a lingering recession. "Right now home prices are still a little low, but we're seeing some stabilization" says Gonzales.
That's good news for sellers because right now it's a buyers market. Gonzales expects that to turn around in 2010 " I think prices will increase into the second half of next year".
Low purchase prices coupled with more foreclosures appears to be attracting investors. "The investors are mostly from out of state" says Gonzales.
Like all experts, Ray Gonzales believes that affordable and available insurance will be the key to positive activity in the real estate market.