Has the Real Estate market bottomed?

By
Real Estate Agent with Davis Yoder Group, Coldwell Banker Realty BRE# 01117410, 00705038

There are a lot of reports out there that the real estate has bottomed.The following chart provides a great visual of where the market is now. The information is provided by Chart of the Day.

For some perspective on the all-important US real estate market, today's chart illustrates the inflation-adjusted median price of a single-family home in the United States over the past 42 years. Not only did housing prices increase at a rapid rate from 1991 to 2005, the rate at which housing prices increased -- increased. All those gains were given back during the following 6.5 years. Over the past five months, however, the median price of a single-family home has surged by over 20% -- the biggest five-month gain on record (the data goes back to 1968). The sharp downward trend that began in mid-2005 is now over.

 

home values

The market in Truckee / Tahoe is very similar, sales volumes are up and inventory is down. Here is our latest report.

There are some exceptional values in our market right now and the prices for land are unbelievably low.

Here is a short sale property we have in Lahontan, one of the very high end gated communities in our area.The home is over 6,000 square fee, 5 bedrooms, 5.5 baths and lots more, on a terrific golf course lot.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Sharon Alters 07/23/2012 09:08 AM
Topic:
Real Estate Best Practices
Location:
California Nevada County Truckee
Groups:
Realtors®
Keller Williams 'Rainers
Tags:
market update
real estate
tahoe
truckee
median home values

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Ambassador
1,156,481
Bryan Robertson
Los Altos, CA

Glad to see the Truckee market is so strong.  I hope that market strength heads up north a bit to Graeagle, Whitehawk, etc.  Down here in Silicon Valley, inventory is way down and prices up sharply.

Jul 23, 2012 08:59 AM #1
Rainer
2,029
Pam Palmieri
Speaker | Stager | Marketing - Milan, MI

Depends on where you are at.  Some areas are on the rebound.  We are near Ann Arbor, Michigan.  That area is rebounding quite nicely.

 

Jul 23, 2012 08:59 AM #2
Rainmaker
1,082,280
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL
Bob, this is a very revealing chart. I remember when we bought our home in 1996, the prices there had been pretty flat. Prices didn't start really increasing until 2002. But that was our local Orlando market. Sharon
Jul 23, 2012 09:03 AM #3
Rainer
43,316
Davis Yoder Group
Davis Yoder Group, Coldwell Banker Realty - Truckee, CA
Experience isn't expensive, it is priceless

Great to get a feel from around the country, all markets are local. I know for sure that Phoenix, Sacramento, Reno and Las Vegas are definitely very strong in the lower price ranges. This typically spreads to other markets.

Jul 23, 2012 09:12 AM #4
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Rainer
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Davis Yoder Group

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