Going Up? Positive Trend Is Spotted!

According to Smart Numbers, an Atlanta market research company, September 2008 saw the first year over year positive growth in singe family homes sales after 18 consecutive months of decline in monthly year to year closings.

Why The Upward Trend?

This upward trend can be attributed to two factors:

  1. September 2007 was a very weak month for closings
  2. The average home sale price in September 2008 was the lowest since November 2001. Condos and townhomes continue to see negative growth at this time.

More good news was that expired listings were also less than the previous year’s for the first time in 33 months. And, existing inventory for new homes, resale homes, new condos/townhomes, resale condos/townhomes all declined from August 2008 to September 2008.

There are still challenges in the marketplace but as the credit markets open up, inflation stays under control and interest rates remain attractive, we should start to see more positive news in the days ahead

To find out more information or get specific data on your area, please contact me.