Depending on what resource I use, real estate is either making a resounding rebound or is still slumping to the tune of increasing foreclosures and continuing downward sloping sale prices. If I use my own personal experience and perspective based on the activity of other Realtors in my office, things are DEFINITELY improving in the residential real estate sales department. I have the following local statistics that I think are dependable: from June to July of ‘09, in Hampshire County, inventory was down by 1% and the number of sold homes was up 8.7%. In Hampden County, inventory is up 2.4% and solds are down 14.6%. I've watched the first-time homebuyer incentive program lessen the glut of foreclosure and otherwise distress-sale inventory as well as fair market value homes in that starter-home price range. If you look at sold prices historically in the different counties, you may find that the lower-priced inventory is greater in one county over the other. Consequently, those areas will have an increase in sales. If unemployment doesn't wreck things, and we should all keep our collective fingers crossed - then we should be in pretty shape in the months to come.
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