The housing market was not too bright in early 2009, surveys say The number of homes sold in England and Wales at the start of 2010 fell back to levels seen at the depths of the downturn, a survey says.Transaction levels fell to 36,000 in January, a drop of 52% compared with the previous month, and then only crept up to an estimated 40,000 in February. That makes current house price estimates volatile, said Acadametrics, the source of the data. It calculated that prices rose by 1.9% in February compared with January. "The start of 2010 was difficult for a number of reasons, and the question is whether this is a blip or the start of a new trend," said Peter Williams of Acadametrics. "Given the unusual factors influencing the start of 2010, there is considerable uncertainty which can only be answered in subsequent months." Weather effectThe traditional seasonal slowdown in housebuying at the start of the year, the wintry weather, and the end of stamp duty relief, all helped to restrict transaction levels, he said.[Read more...]