What is the Real Estate market doing?

Recently I have met with several homeowners interested in putting their home on the market. During the research phase of my market comparison I found that the market had slowed some but inventory levels were not as high as I had originally thought.

That's good news. The area in question was a portion of Prince Georges County, Md. I determined the absorbtion rate of properties on the market. You compare what has sold during different periods based on what is currently on the market. In many of those areas I found that there was only about 2 months of inventory listed. If there is less that 4 or 5 months of inventory on the market we still consider it a buyers market.

It is true, there seems to be fewer buyers out searching for homes but they are still buying. The trend now is toward a more controlled, strong market, as opposed to a crazy market we have seen during the past few years.

Click the below link to view the pending home sales index, published by the National Association of Realtors.

http://www.realtor.org/PublicAffairsWeb.nsf/Pages/PHSI0106

As always, please feel free to contact me with any of your real estate questions. Also visit my web site for up to date listings and other helpful information at www.homesbuyday.com

My monthly newsletter has additional information about market conditions.

Regards,
John Day