The Good, the Bad and the Ugly Well . . . . . . . o.k. - so, it's mostly the bad and the ugly. Last year from January through June there were 1,992 closed sales (this figure only accounts for re-sales, not new homes). This year for the same period there are 1,138 closed sales. Folks, that's a 43% decrease. - In May, 2006 there were 354 sales - this year, 187. That's a 47% decrease.
- In June, 2006 there were 365 sales - this year, 189. That's a 48% decrease.
Currently there are 2,763 homes for sale in Riverside and 343 pending sale. Based on current inventory, we have a 15 month supply of homes on the market. In summary, it appears that the remainder of 2007 will continue to be difficult for home sellers. Sellers: - If you need to sell your home you're going to need to be patient. The good news is that if your home is priced right and properly prepared it will sell. Buyers have many homes to choose from, so it's critical that yours stands out. Staging your home is one way to give it a competitive advantage in this market. Please contact me at (800) 445-0597 or through my website at http://www.ewingforhomes.com/ for additional information on staging your home.
Buyers: - If you're in the market to buy a home, there's good news for you as well. Prices are coming down, interest rates are still at historical lows and there's a great selection of homes for sale. Visit http://www.ewingforhomes.com/ to search the multiple listing service for homes for sale.
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