We hear varying information in all the statistics that are published. The best recent info comes from the National Association of Realtors. Sales in the first quarter may have been down from the fourth quarter of 2009, but it's year-to-year that really matter, and Q1 of 2010 is a definite improvement over Q1, 2009.
Interest rates are also ratcheting downward.
What's happening locally?
After the frenzy of buyers rushing to beat the deadline on the Federal Tax Credit, sales are less frenetic, but still very busy. Open houses are excellent and multiple offers abound. The difficult part is always dealing with lenders.
The appraisal on my last sale came in $25,000 under the sales price, but considerably over the listed price. Inventories are rising and sales steady. Single-family homes in the low $1 millions are moving very fast with multiple offers, but the local condo market is slower than normal. My lovely townhouse listing is still on the market.
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