Bargain Hunters Boost Home Sales in Some Markets

USA Today (04/17/08) P. 1A; Armour, Stephanie
With both home sales and prices plunging across much of the country, many potential buyers remain hesitant to jump into the fray even as the national median price sank to $195,900 in February from $213,500 a year earlier. However, to a small but growing number of buyers nationwide, the housing boom going bust has opened up a wide variety of homes to them at fire-sale prices. Among the bargain hunters now benefiting are first-timers, foreign investors and out-of-state buyers looking to rent properties they hope to sell later for a profit. In such markets as Charlotte and Detroit, home sales are on the rise; in others, bargain-hunting activity remains too spotty to fuel an overall sales increase.