By Jay Hummer

I like to think of myself as a glass half full type of guy.  I’m the type who also tunes into the news looking for that good positive story, realizing that the headlines are generally dominated by doom and gloom.

The summer is winding down, and the recent headlines in the news on the real estate industry can look pretty scary. There are lots of negative headlines out there, ones like “Foreclosure Crisis Deepens,” “Mortgage Refinancing Tougher Than Ever,” and “Home Sales Plummet in July.”

But dig deeper and you’ll find that even as summer phases out, there are still some real bright spots out there.

Let me put a few things into perspective. Yes, sales were down both nationally and locally for the month of July.  According to the National Association of Realtors, sales were down 27%  for the month, and locally the Massachusetts Association of Realtors reported a month-to-month decrease of 38.1 %.  However, one silver lining that both associations report is an increase in median home sale prices. Freddie Mac reported home prices rose 3.1% in the second quarter of 2010 versus the first quarter, while the Massachusetts Association of Realtors reported a 7.4% year-over-year increase in median selling prices for single family homes.

The reality is that tax incentives for buyers have expired and the July market reflected that.  July was the first time in twelve months that sales numbers have been down, and now the industry needs to look forward and march on its own two feet. There are some positive signs out there as interest rates remain at record lows and prices remain affordable.

The Boston Globe recently compiled a list of “hot spots,” places that bucked the trend in July and have seen very positive sales numbers.  These ten locations referenced are just a sampling of communities throughout New England that continue to witness positive trends.

On September 2^nd the National Association of Realtors reported that pending home sales for July had increased by 5.2%. What was encouraging about that report was the reference that sales were driven by amongst other hot spots, a more than 6% increase in the Northeast.

As I’ve pointed out previously, unemployment rates will continue to be the main influencer of the market, and market supply will also be a factor.  There are buyers out there right now who are waiting for the right inventory to come to the market and when it does, they will fuel the market moving forward.

There continues to be activity at every level of the marketplace, so don’t be discouraged by the headlines.  Maybe you are still not sure if it’s the right time for you? As always, I’d encourage you to contact you local RE/MAX agent who can help assess your individual needs. In the meantime, soak up these last few weeks of sunshine—boy did another summer to remember fly by fast

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So, this fall as you watch the New England Patriots hopefully make another run at another Super Bowl championship, we here at RE/MAX of New England will be watching extra closely and hoping for a very high scoring season. Each touchdown scored brings them closer to 76 and we’ll be rooting hard for a record-breaking season. Head over to www.remax-newengland.com for additional details and to apply for the “Take You to the House” program and this year’s New England Patriots season could change your life.