What's going on with the real estate market in Fresno?

I often get asked by people considering getting into the real estate business in the Fresno area, "What's going on in the market?" After we talk about the reasons why it's a good time to get into the market, we often discuss real estate statistics. Since I do not have a crystal ball, here's more insight into the future from an article posted on Realtor.com:

Banks: We're Hiring
The Mortgage Bankers Association predicts that the mortgage business should increase from $725 billion in 2010 to $916 billion by 2013. Some banks agree and are hiring loan officers by the dozens.

For instance, JP Morgan Chase is hiring 1,200 mortgage officers. "We may not be inundated with applications tomorrow, but we are confident the need will be there," says Christine Holevas, a spokeswoman for the bank.

Citizens Bank, owned by the Royal Bank of Scotland and doing business in 12 states, plans to add 400 loan officers by 2013.

Source: CNNMoney.com, Tami Luhby (06/24/2010)

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