Here is this months Oakley Market Report. These figures were pulled from the MLS on July 13th & 14th and are for Single Family Homes only. There are some slight differences in the Sold properties for May in this months report and Last Months Report Due to late reporting.
The upward pricing trend has accelerated to almost 2% per month. The number of bank owned homes on the market dropped slightly and now stands at 56, down from 62 last month. The price of active homes is moving closer to the sales point of the sold homes. The housing supply is almost 3 months, but this is still a tight market, and this is part of the reason for the price increases and the downward trend in total sales numbers.
I have stated before that when we get through the Bank Owned Home sales there will be a sharp increase in prices. However, there are different rumors about and we may have another glut of Bank Owned Properties coming onto the market.
This is a wise time to invest in housing and I have recently started a series of blog post on investing. You may wish to read it.
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