Here is our Market Trend for the first 2 months in the area of Fort Pierce, FL
The steady absorbion rate in spite of new REOs hitting the market which means more foreclosures being released. Sales increased in proportion to foreclosure inventory releasing.
It is my opinion the sales in the 30 to 60 day on the market selling at a median of 116% over asking, this appears to be the short sales and they are apparently gettign their asking price and much more.
However, if shadow inventory continues to be released, we can most likely predict that sales prices will remain depressed as more inventory continues to be released, thus keeping prices steady.
We can only hope that REO inventory will start slowing as our economy continues to recover and this should allow our prices to finally start rising.
And check out this report from Active Rain on predicted trends: http://actvra.in/tJy
| Jan-12Feb-12 | ||
| # Months Inventory | 8.35 | 8.3 |
| # Active Listings | 526 | 573 |
| # Sold Listings | 63 | 69 |
| Absorption Rate | 63 | 69 |
Comments(0)