The number of homes Sold in the Cincinnati MLS in 2009 was VERY close to the number sold in 2008.
2009 18,826 Residential Sales
2008 18,808 Residential Sales
We were on pace to have more like 17,600 for 2009. But once the tax credit kicked in, it did spur sales
. It spurred sales for first time home buyers. We were at 47% for first time home buyers. This is an unusually high number.
The number of homes sold for November 2009 jumped up over 400 more than November 2008. This is the month the Tax Credit was supposed to end. Everyone timed everything to close by the end of November so this greatly increased the November sales. But the tax credit was extended on November 7, 2009 to April 30, 2010.
It would be logical to assume we will see the same type of jump in April over a year ago as we saw for November.
It will be interesting to see what happens after April. Will all the momentum be gone...or will it just be the beginning on the road back to a more normal market. Or perhaps, the market we have IS a normal market, it is us that needs to adjust.
Only time will tell. I do know this. This January is off by exactly 100 from last year, 924 in 2009 vs. 824 in 2010. Not a real good sign.
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