Housing Sales Up in December

Even with the economic outlook on unsteady terms, sales across the country were up 6.5% in December 2008, with inventory levels falling 12%, creating less than six months' inventory in many large metropolitan areas, including Houston and Dallas.  A six month inventory is considered the rate at which supply and demand has evened out.  In the western United States, sales increased almost 14% and the south experienced a 7% increase.  These statistics seem to indicate that buyers are indeed taking advantage of the lower prices and low mortgage rates.  Approximately 45% of the December home sales were attributed to foreclosures and short sales.  Could this be the "bottom" the real estate market is so desperately hoping for?  It's too early to tell.  But, if numbers stay positive for the next two to three months, it would definitely be an indicator of brighter things ahead.  Contact me for all your Amarillo real estate needs.