Every day, I pick up the Wall Street journal and the Washington Post as I head out to walk the dogs. Some days I am excited about what I read but most days lately I wonder why I pay to be tortured like this.
A few days ago, I received the October Statistics from the Northern Virginia Association of Realtors (NVAR) for October. There are some uplifting stats in the newsletter. This morning I read in the Wall Street Journal that companies are slowly ratcheting up hiring but not nearly fast enough to wipe out the high unemployment. Still, more positive than the usual gloom and doom.
Here are the NVAR stats for October. Sales activity for Fairfax and Arlington Counties (just outside Washington, D.C.) and the towns/cities of Fairfax, Falls Church, Vienna, Herndon, and Clifton show a 10.09 percent INCREASE in homes sold above Octover 2008 with 1,604 homes sold in October 2009.
Active listings are down by almost 22 percent and avarage days on market (DOM) decreased to 58 days from 94 days in October 2008. Sales prices were slightly lower at $424,510 versus $427,502 in October 2008. The median price was down slightly to $356,800 from $359,000 last year.
"NAR (National Association of Realtors) economists estimate that the current tax credit has contributed approximately $22,000,000 to the general economy."
An exerpt from Prashant Gopal, Business Week Reporter
"The recession appears to be over and America's job market recovery should get under way next year (assuming theres no double dip downturn)."
October Market Statistics: http://www.nvar.com/MarketStatistics/MonthlyReports/2009/October2009/tabid/572/Default.aspx
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