Last Thursday, during the International Real Estate Conference, Lawerence Yun, chief economist for the National Association of Realtors (NAR), stated in regards to the real estate market, “We’re certainly near the bottom if not at the bottom.”

This is no way means that the real estate market is going to make a quick come back, there are many variables that point to a slow recovery. The high-end real estate market is slow, inventories are high, foreclosure filings are still on the rise and mortgage rates are climbing; all of these factors could point to a slow rebound.

According to the RealtyTrac U.S. Foreclosure Market Report for April, foreclosures increased less than one percent on a monthly comparison and 32 percent on a yearly comparison, marking April as the highest monthly foreclosure rate since 2005. In Hernando County Florida, foreclosures fell 14.5 percent in a yearly comparison with April of last year, which is a good sign for the local community.

The Real Estate inventory is much higher than it should be, although homes under $200,000 seem to moving rather quickly, the high-end market has become” stagnant”.

When taking these threats to the real estate market into consideration, a slow recovery seems inevitable; however, the market will recover none-the-less.