In-Depth Analysis

February 2010

 

 

Market-at-a-Glance

The Market-at-a-Glance section contains an overall summary of the trends described in our detailed articles.

A recap of the current market indicators are as follows:

1.     Resale Listings – 41,506

a.     The January listing count increased by 1,797 (4.5%) from the December count.

2.     Resale Sales – 5,789

a.     Resale sales volume is up from this month in 2009 by 1,053 (22.23%) - (the 2009 figure was still weak because of the credit crunch).

b.    Resale sales volume is up from this month in 2008 by 2,882 - (the 2008 figure was very weak because of the credit crunch).

c.     Resale sales volume is up 1400 sales from this month in 2007.

d.    Resale sales volume is up 532 from this month in 2006.

e.     Resale sales volume is down -843 from this month in 2005 (the 2005 figure was also inflated by speculator activity).

f.      Resale sales volume is up 671 from this month in 2004.

g.    Resale sales volume is up 1,029 from this month in 2003.

3.     Median Resale Sales Price - $123,000

a.     The median January sales price decreased $3,500 from December.

b.    The median sales price is $132,000 below the June 2007 level. 

c.     The appreciation rate for the last nine months (April 2009 to present) is 8.9% on an annualized basis. 

4.     New Home Market

a.     The number of New Home specs on February 16th had increased by 59 from the January 19th count to 1,802.  The record level was in October 2006 at 4,692.  Prior to February 2006 the record was 2,400 homes.

b.    After thirteen months the number of New home subdivisions has reached its bottom This month was up by 1 to 499.

5.     REO – The percentage of resale properties sold which were Lender Owned climbed .1% to 42.0%.

Over the past few months spec inventory has continued to creep down – well into the normal range. I believe we have reached the floor in spec count.

The general press is reporting housing market information that is six to nine months old.  The In-Depth Analysis Newsletter provides current information that you need to serve your buyers and sellers and to help them understand what is happening in today’s market.

Side Note

I believe there are the best deals available in the real estate market that we may never see again.  If I were an investment counselor (I am not), I would say that if you have the need and the money, look for the deals and buy now!

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