Friday, August 17, 2012


Homes 4 sale continue to fall The housing market is in recovery mode as evidenced by plummeting inventory levels and rising median prices, as indicated in its National & Local Market Trends report. In July 2012, the total number of residential listings from single-family, townhouses, co-op and condos dropped almost 20%, slightly just below 2 million. In the Fall of 2007 the national inventory was over 3 millions units. According to the National Association of Realtor’s website, the average length of time that properties are on the market is about 85 days, down about 9% from 2011, this while the average national list price is $194,900, which is up 2.63%. Today, the overall list prices are well below the 2007 $250,000 national price at its peak. Now is a GREAT time to buy! Generally, rising or stable prices combined with lower levels of inventory are signs of a recovering housing market as noted in the report. It’s important to note that older industrialized parts of the U.S. economy continue to show signs of weakness when it comes to housing. On the other hand, for-sale inventories are definitely falling in most U.S. markets – New York being one of those markets. Now is a GREAT time to buy! List prices grew in 91 of the 146 surveyed markets and declined in only 22 markets. "This pattern is in stark contrast to trends observed in July 2011, when median list prices were down -1% or more on an annual basis in 58 of the 146 markets covered by," the report noted. Now is a GREAT time to by! As a full service Realtor, I will help you achieve Real Estate needs – from finding your “DREAM” property, helping you connect with consumer friendly mortgage lenders, Attorneys that specialize in Real Estate, as well as housing, and termite, etc. Subscribe to my blog -