Tuesday, March 25, 2008

Good News Regarding Home Sales...

Quoting from an AP report today...

National numbers

Sales rose 2.9 percent in February, the National Association of Realtors said. They last rose in July. In another encouraging sign, the inventory of homes for sale fell. It would take 9.6 months to exhaust the supply of homes for sale at the February sales pace, down from 10.2 months in January.

Local numbers

North Texas existing-home sales, reported earlier, fell in February for the 12th month in a row, to 5,556. However, the pace is off only 10 percent from a year ago.
And although North Texas median home prices fell in February, they are down only 3 percent from February 2007, according to the North Texas Real Estate Information System.

My Opinion...

Personally, I am seeing more buyers in the marketplace vs. a few months ago, less overall inventory (especially inventory of "special" homes), & more sign calls and internet inquiries. The most strength seems to be in the $140,000 to $175,000 range right now. Also, all homes with swimming pools do not have very much direct competition, so they are doing well.

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