Here's to the market finally settling in.

Real Estate Agent with need of complete rehab.

I was going through the numbers this past week and here is what I had found.

The headline read to the affect of; "Homes Sales Drop 28%" from month to month sales for Sept. 2009 and Sept. 2010.  Even though this is an improvement from Aug. 2009 compared with Aug. 2010 when home sale dropped 30% and so on and so on.

So I think; Bad news is good news, right.  That's what people get excited about to read.  

So, here is the boring "good news".  

First for the the selling and buying public;  In my local TrensMLS (Tri-State Philadelphia market) those drops are true however, average home sale prices have rose 7.78% in the region.  In Camden county homes prices rose .78% and in Mercer County 13.2%.  It seems as if home values have hit bottom, interest rate are at an all time low and there is a good inventory to meet everyone's wants.

For the Realtors, the number of agents dropped nationally from approximately from 1.4 million two and a half years ago to 930,000 today.  Sales may be down 30% but so is the number of agents.  

And there is the boring "good news".  Homes values are starting to come back, there are less agents but more professional agents who stayed in the game and we are now in the 1995 market.  

Two years of a relatively flat market, three years of a good growth market and three years of an over heated market.  Buy now.  Sell and buy up in 2013 -2015 and sell in 2017 - 2020. And get ready for another down turn.

Of course, this is just my opinion but we all know; History always repeats itself.

Comments (1)

Joetta Fort
The DiGiorgio Group - Arvada, CO
Independent Broker, Homes Denver to Boulder

Interesting thoughts. I've been encouraged by our low numbers of distressed sales, but then saw that we have more houses on the market than a year ago, fewer sales, and average prices have dropped. I don't like bad news, I'll bet if I keep digging I can find some good news instead!

Nov 19, 2010 08:53 AM