Are We Having a "Housing Spring"?
February 23, 2012
It is a real pleasure to open the newspapers and see headlines such as "Housing sales improve", or "Better year is seen for housing".Then there is the chart in the Wall Street Journal that tracks home resales since 2010. It shows that we are really leveling out in the number of units reported sold.
According to an article written by Derek Kravitz of the Associated Press in The Sun newspaper, "Sales of previously occupied homes are at their highest level since May 2006. ...And the supply of homes fell last month to its lowest point in nearly seven years..."
The same article was published in The Press Enterprise newspaper. with a sub title "Sales have risen nearly 13 percent over the past six months. More first time home buyers are making purchases."
I will be doing the numbers for active listings and properties in escrow next week. We know that our inventory is low. It will be interesting to note the ratio between those that have accepted offers (in escrow) and the active listings. We have seen that properties that are well priced are having offers within thirty days or less.
Both prices and the low, low interest rates are encouraging buyers to re enter the real estate marketplace. We are even seeing more activity in the move up buyer market.
While it is too early to celebrate the turn around, it does feel as though we are having a "Housing Spring".
It is a real pleasure to open the newspapers and see headlines such as "Housing sales improve", or "Better year is seen for housing".Then there is the chart in the Wall Street Journal that tracks home resales since 2010. It shows that we are really leveling out in the number of units reported sold.
According to an article written by Derek Kravitz of the Associated Press in The Sun newspaper, "Sales of previously occupied homes are at their highest level since May 2006. ...And the supply of homes fell last month to its lowest point in nearly seven years..."
The same article was published in The Press Enterprise newspaper. with a sub title "Sales have risen nearly 13 percent over the past six months. More first time home buyers are making purchases."
I will be doing the numbers for active listings and properties in escrow next week. We know that our inventory is low. It will be interesting to note the ratio between those that have accepted offers (in escrow) and the active listings. We have seen that properties that are well priced are having offers within thirty days or less.
Both prices and the low, low interest rates are encouraging buyers to re enter the real estate marketplace. We are even seeing more activity in the move up buyer market.
While it is too early to celebrate the turn around, it does feel as though we are having a "Housing Spring".
posted by shirley harry at 7:42 AM
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