Inventories are down, and prices ticking up??

Real Estate Agent with Principal Property Brokers

This morning, I got an email from a national relocation research company that calls on me for area statistics.  Her question was much have homes gone UP? since march.

Well the MARKET ACTION from the MLS does say median and average home prices are up in august. 

Inventories show at 8 months, the lowest in a long time, but are REAL prices ticking up?  NO, I dont think so.  Stabilizing maybe, but I dont think you could sell your house higher now, than you could in march.  The higher median and average, simply means there are more homes (at higher price points), selling now, than in the spring, when it seemed the only thing selling were "STARTER HOMES".

The 8,000 tax credit is still in play, at least for another few weeks, AND today BEN BERNANCKE claims, the recession is OVER.  But his statement is also full of Mixed Messages.  FULL ARTICLE.

If you would like more information on recent sales, statistics, or YOUR HOME VALUE, contact me, Im here to help and provide a realistic view of current home values, sales and inventories.

Gloria Matthews




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