February 26, 2008
Once the Federal Housing Administration increases its conforming loan limit from $417,000 to $729,000 in some high-cost areas, buyers could see more attractive borrowing terms. That could help restore buying activity in the market, said Delores Conway, director of the Casden Forecast at the USC Lusk Center for Real Estate. The spring and summer months, traditionally peak time for sales, are expected to pick up, Conway said. But don't expect normal activity. "It would be too much to ask for."