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Interesting Market News!

By Kelly Welty

Real Estate Agent

October 27, 2010 09:05 AM

I wanted to let you know of some interesting market news. Numbers speak loudly!

The resale market inventory continues to go down in Ada County. There are 2837 homes on the market currently which is down from 2984 last month. Last year at this time there were 3158 resale homes for sale. July 2008 was the all time record high at 3920! Can anyone guess where we were in the lowest point in July 2005? Under 1,000? Yep! 657 to be exact! Of course, as the inventory gets lower, the market is stablizing more. There is currently 7 months of inventory on the market right now which is much healthier than the 16.7 months of inventory we had in January 2009 - we are hoping that was the bottom of the market!

Affordability is key right now in this market! With prices low and interest rates at an all time low, it's a great time to buy your first home, move up, or definitely invest!

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Charlie Ragonesi

AllMountainRealty.com - Big Canoe, GA

Homes - Big Canoe, Jasper, North Georgia Pros

Nationally we are seeing homes sales of resale homes going up. Lets hope the talking head on TV do not get their folks elected. I watch a bozo on CNBC talk about how 8 percent mortgages would be good for the banks and our market. Hey but your nerws is great and i think part of a national trend

Oct 27, 2010 09:07 AM

Andrzej Niemyjski

Realty One Group - Sun City West, AZ

Those are pretty good numbers for your area hopefully trend will continue

Oct 27, 2010 09:13 AM

Kelly Welty

Boise, ID

Thanks! We are hoping the trend continues also! I've been seeing a lot of first time home buyers get some very nice homes that 2 years ago there would have been no way they could have purchased.

Oct 27, 2010 09:53 AM

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Kelly Welty

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