Statistics are out for September, 2010 sales for Henry County. Here are some highlights:
Demand for homes went down 30% compared to September, 2009 and down 6% compared to August, 2010 with demand equaling houses sold. This is not good.
Supply of homes went down 26% compared to September, 2009 and down 6% compared to August, 2010, supply equaling homes available for sale. This is good.Months' supply of homes went up 1% September, 2009 to September 2010. This is measured by dividing homes available for sale by the number of homes sold that month. It went from 12 months to 13 months in this period. This statistic stayed the same from August, 2010 to September, 2010 (13 months). Seven months' supply and over indicates we are in a buyer's market with prices depreciating.
There were only 20 homes sold all month from $200,000 to $1,000,000, which amounts to 20% of all homes sold.
These statistics are based upon homes between $100,000 and $5,000,000.
Predictions from many "experts" in real estate are that prices will remain down through part of 2012 and then prices are to start to rise. It is still a great time to buy real estate. If you have been waiting for prices to go up to sell, it will be a while yet according to the "experts".
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