Timeshare developers are seeing early signs of recovery from the crippled securities markets, forecasting a rebound in the industry.

Before last fall’s financial meltdown, timeshare companies were earning big profits. However, when the markets froze, the industry’s growth rate quickly declined with some companies losing up to 36 percent during the first quarter of the year.

While no one expects a rapid return of the market, two large companies have issued mortgage-backed securities in the past two months and industry experts expect interest rates to fall.

“The good news is things are beginning to move again,” said Howard Nusbaum, president and CEO of the American Resort Development Association. “The bad news is this will take awhile.”