Moving Markets

 Image © Sherwin Sucaldito

So it’s been all over the news that housing recovery is in full force across the country and not just in selective markets. A part of the recovery is due to supply, with inventory lower across all market segments, while real estate sales increasing at the same time from this period last year.

Additionally, with fewer distressed properties coming to market, median prices have been increasing in most segments as well as buyers no longer have limitless choices of properties, especially with distressed properties that were often priced aggressively and below market value. With more traditional property resales going into contract, prices will continue to stabilize and increase, although some areas may see slower affects than others. Lender mediated sales still make up 38% of the market, but lower than earlier in the year when lender mediated sales were almost at 60%

So what can we expect? How long will this current recovery last? What is driving the current market?

These are common questions I seem to receive frequently. As long as the pace of distressed properties coming to market remains steady, the current trend may continue. At the current rate, the spring market may bring more sellers who have been waiting on the sidelines to sell, but that could be offset by as many buyers who have been waiting as well, coupled with other buyers who have either remained in their current home longer than anticipated as well as previous owners who may have been involved in a short sale that are starting to recovery their credit worthiness, although the latter will be very few in number.

Families struggling through a tight economy have also made key moves into areas with desirable school districts, planning for long term stays as well, adding to transactions in key school districts.

       View August market reports as well as lender mediated sales.

Sherwin L. Sucaldito, REALTOR®, GREEN, ABR, CRPM
The Institute of Luxury Home Marketing
Green REsource Council, GREEN
Accredited Buyer’s Representative , ABR
Certified Residential Property Manager, CRPM
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