FED declared recession is ENDING, Sellers continue price cuts & Forbes releases top 10 leading cities

The Federal Reserve declared the recession is ENDING,

"Economic activity is leveling out." Our main money holder ended the policy making meeting last Wednesday stating it will leave rates alone; however will be ending its program to buy $300 billion worth of Treasury bonds by the end of October.

Almost 1/4 of home sellers cut prices in July

Trulia.com reports nearly 25% of all US home sales on August 1st had a price cut in July.

• Cities showing significant increases in the percentage of listings with price cuts from June 1 to Aug. 1 were:
  Fresno, Calif.: 67 percent
  Colorado Springs, Colo.: 27 percent
  Kansas City, Mo.: 25 percent
  Oklahoma City, Okla.: 24 percent
  Albuquerque, N.M.: 22 percent.
  
  
• Cities with significant declines in the percentage of listings with price reductions included:
  Dallas: -42 percent
  Las Vegas: -33 percent
  Louisville, Ky.: -33 percent
  Los Angeles: -19 percent
  Washington, D.C.: -17 percent

Forbes' 10 leading cities leading MARKET RECOVERY 4 are located in CALIFORNIA!

1. Miami-Ft. Lauderdale, FL

2. Lincoln, NE

3. Colorado Springs, CO

4. Salem, OR

5. San Luis Obispo, CA

6. Bremerton, WA

7. Denver, CO

8. Redding, CA

9. Santa Barbara, CA

10. San Jose, CA

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RealEstatewithRuben@gmail.com

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