Real Estate Pros See Hamptons Comeback in 2012

Real estate brokers, developers and analysts say the Hamptons market will continue to make a comeback in 2012, Gotham magazine reports.

broker Gary DePersia told Gotham that's it no "broker babble," and he is "cautiously optimistic" going into summer. The strongest areas are Bridgehampton, Sagaponack, Water Mill and Wainscott, while East Hampton saw a tumble in home prices, according to Corcoran.

Gotham also reports that market doubt in recent years has resulted in rising Hamptons rental rates, as people who otherwise would have purchased a vacation home opted for a seasonal rental instead.

Read the report at gotham-magazine.com.