Sherwood Oregon News - Housing Inventories Fall in 29 Major Markets, 2009
The inventory of existing homes for sale in 29 major markets covered by ZipRealty declined an average of 2.5 percent in January 2009, compared to December 2008 and down 13 percent compared to January 2008.
This is a good sign, especially when considering that typically inventories rise in January after the holidays. In the last 25 years, the average increase in inventory in January has been 8.7 percent, according to Ivy Zelman, CEO of research firm Zelman & Associates.
Housing-market analysis Altos Research reached similar conclusions, saying that the listings in its 10-city composite index declined 3.3 percent in January compared to December 2008.
This data doesn't include New York City, where appraisal firm Miller Samuel Inc. reports that inventories were at the highest level in the last decade, up 6 percent from December and 36 percent from January 2008... Source: The Wall Street Journal, James Hagerty (02/10/2009)
Provided by Altos Research
The median single family home price as of February 08 2009 for SHERWOOD is $421,752.
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There's no doubt that with new housing bills, lower interest rates, better programs for today's investor, a larger selection of homes to choose from, DEALS of the century, and the new First Time Home Buyer Tax Credit (which ends in June by the way) we'll be seeing and reporting more of the trends we've all been hoping for. NOW is the time to buy!
While general market data like what's provided above is helpful information, zeroing in on YOUR criteria will bring the most desirable results. As the local market leaders, we welcome your questions or the opportunity to provide you with a detailed COMPARATIVE MARKET ANALYSIS (CMA) Report for your home or even a home you may be interested in purchasing.
Discussing your goals with a professional, both personal and in real estate, will allow us to best position you in today's market and for the future. Our reports include among many things the direct neighborhood in which you live and the actual criteria of your home. This will paint an accurate picture as it relates to where you stand. Keep in mind that we've prepared 100's of these reports and in 2008 sold the most Sherwood Oregon real estate. Being your local experts and neighborhood Realtors, we can help you make the most informed real estate decisions. Our proven success is based on consistently responding to the needs of our clients and helping them move successfully onto the next chapter of their lives.
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Good data research and an excellent job on your presentation
Thank you Joe - It's a pleasure to have access to good news to report. I don't think we can share enough of it. Thanks for reading our blog.
Amber
Amber, the inventory levels going down should ease the excess supply that has been out there for so long. Thanks for giving us all the latest.
Gary - You're right. Changing factors such as this will provide a positive change. Keeping our fingers on the pulse and measuring the trends ahead of time will continue to keep everything in perspective. Thanks for your participation in our blog.
Falling inventory is a good sign. It will certainly take longer for a market to recover when there is an over supply of housing. As soon as we start to see the economy improve the areas with lower inventory will tend to appreciate faster.
Bill - Yes, less inventory is a good sign. With the Spring coming around the corner and more home sellers wanting to put their homes on the market, this will help to provide some much needed room.
What does this mean? Are we finally turning a corner?