Is the recession over? Economists polled by the Wall Street Journal say, “Yes.” Economists date the start of the recession to December 2007 and a majority agrees that the recession is coming to an end. If the economy shows additional growth in the second half of this year, companies are expected to switch from layoffs and trimming workers’ hours to boosting employment. July 2009 results clearly indicate market improvement for Cape Cod. In July 2008, 334 residential properties were sold and July of 2009 recorded 376 property sales. This amounts to a 12.6% increase for July 2009. The first versus the second quarter showed marked improvement in sales. 555 sales were recorded for the 1st quarter with the second quarter gaining 48% to 824 sales. Another good market indicator is the number of pending sales at 318 with 341 additional pending sales with outstanding contingencies.
Mar 2
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