I wrote about the market turn we began to experience in April. Since then, existing home sales rose 13.8% from May to June and 28% from June to July. I also mentioned that our prices had finally remained steady for a few months, but from May to June, the median home price actually ROSE 2.49%! No one foresees any big price increases, but certainly fewer houses and likely no more price declines. Statistics aside, those of us in real estate are seeing huge changes on a day-to-day basis. Our phones are ringing, our web sites are getting more hits and we’re selling! Houses that are priced well are going to contract within a matter of a couple of weeks, when last year, you could expect a house to be on the market for 6 months or more! The $8,000 tax credit that expires Nov 30 is also generating more sales. Our market will recover. It will take time, but it will recover. This not to say that you should sell your house unless you absolutely have to, but it is a tremendous improvement. Values will return and people who buy now will have made a fantastic investment. I'm delighted to be selling during this time when people are able to get such great deals on homes. =)
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