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December Market Update

It’s the time of year when everyone is making predictions for what may occur in the upcoming year.  While I’m a Realtor and not a fortune teller, or an economist, the continued high number of house sales does give us some indication of what the future may hold.  Inventories remain low and people seeking to purchase bank owned homes are competing with multiple offers.  More than 40 percent of sales are cash.  Demand is high.  Prices are no longer declining.  As long as the number of bank owned properties coming on the market each continues to equal the number of sales, it would not surprise me if prices were up by 10 percent by the end of 2010.  Feel free to comment!

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