October Shows a Brighter Picture
Heading into the two final months of 2009, we’re seeing a much brighter picture than what we endured in 2008. We’ve moved out of the extreme buyer’s market into a buyer’s market. We are edging closer and closer to a balanced market. There is continued concern about growing job losses that undermine confidence. At the same time low mortgage rates contribute to a favorable buying environment.
Single family unit sales at 718 were 37.3% higher than last year in October, and following the usual September to October pattern, sales were almost the same for both months. The number of listings on the market also held fairly steady, but were down almost 27% from the previous year.