stats: Another Market Shift (Loudoun County, Va)
- 08/03/08 11:17 AM
Could the "Whisperers" be right (click to see original post)?June's month end reports for Loudoun suggest that may be the case.Although sales prices are down about 17% from last year; market activity is UP, with a 19% increase in the number of homes going under contract compared to the previous year.NAR says a "balanced market" carries about a 6 month supply of homes (meaning that at the current absorption rate, it would take 6 months for all the homes to go under contract). In Loudoun, as of the end of June, we're at just over a 5 month supply.It's also important … (0 comments)
Could the "Whisperers" be right (click to see original post)?June's month end reports for Loudoun suggest that may be the case.Although sales prices are down about 17% from last year; market activity is UP, with a 19% increase in the number of homes going under contract compared to the previous year.NAR says a "balanced market" carries about a 6 month supply of homes (meaning that at the current absorption rate, it would take 6 months for all the homes to go under contract). In Loudoun, as of the end of June, we're at just over a 5 month supply.It's also important … (0 comments)
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