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COLDWELL BANKER SEES HOUSING RECOVERY; CEO BARTON SAYS LOW INTEREST RATES KEY TO RECOVERY

 COLDWELL BANKER SEES HOUSING RECOVERY;
 CEO BARTON SAYS LOW INTEREST RATES KEY TO RECOVERY
 MISSION VIEJO, Calif., March 16 /PRNewswire/ -- Coldwell Banker Residential Group home sales show a 35 percent increase over last year for the first two months of 1992. Sales show the highest increases in the Midwest and Northeast, with a rise of 48 percent over last year. In the South, sales increased by 34 percent, with Georgia, North Carolina, South Carolina and Tennessee showing the best results. Home sales in the West show an increase of 17 percent over 1991 for January and February, where Arizona, Colorado and San Francisco show the strongest increases. Because the first two months of 1991 were depressed because of the Persian Gulf Crisis, the current level of sales activity is not robust, but does reflect an improvement.
 "As long as fixed mortgage rates remain below 9 percent, the housing market should remain healthy through the spring and summer months," says Chandler B. Barton, chairman, president and chief executive officer of Coldwell Banker Residential Group. Barton also says that in January Coldwell Banker noticed a strong increase in move-up buyers.
 If Congress enacts any legislation that benefits home buyers, that will also have a positive effect on the market, notes Barton. Coldwell Banker has taken an active role to encourage a grassroots campaign for tax credits with national and local advertising which states, "Get Your Congressman to Help You Buy a Home."
 Coldwell Banker has more than 1,900 residential real estate offices and more than 40,000 sales associates in North America, and is a member of the Sears Financial Network.
 -0- 3/16/92
 /CONTACT: Teresa Tomasic of Coldwell Banker Residential Group, 714-367-2462 or 800-733-6629/ CO: Coldwell Banker Residential Group ST: California IN: FIN SU:


DM-JL -- LA011 -- 8145 03/16/92 09:05 EST
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Publication:PR Newswire
Date:Mar 16, 1992
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