NAR just released their 3rd qtr numbers for our area. True...the third qtr was a long time ago, but there's still real value in the "Local Trend" data attached to the report.
Its interesting to overlay sales and price trends from the 3rd qtr to the actual of what happened in the fourth:
"Prices are down and continue to weaken" - but, we had a strong rebound in median driven by shrinking inventory and a continuation of the tax credit
"Sales growth has improved substantially form a year ago" - and continued through year end
"Employment continues to decline and could impact demand in some areas" - recent good news from Micron
Mortgage Payment to Income - "Historically strong and an improvement over 2nd qtr
"Local affordability has improved and is below historical average"
Read the entire report
Monday, January 18, 2010
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