Every Month, Mr Forrest Barbee and Equity Title
put out a Monthly Market Update.
Below are the main points, and my comments.
We have seen this Price Graph before.
Just to reiterate, these recent rises in price are a recovery, not a bubble.
Just 2 years ago, only 37% of all transactions were Traditional Sales (Classic)
As a Realtor, It's nice to work with People again, and not banks.
Again, only 2 years ago 53% of all transaction were CASH (usually investors)
This gives a good visual of how the Market has changed;
- Moving away from Foreclosure
- The rise and fall of Short Sales
and Traditional Sales returning us to a "Normal Market".
This might be the most thought provoking graph of them all.
Sales (solds) have stayed steady at around 3,000 a month.
When Inventory dropped, Prices started Rising.
When Prices rose, Home Owners once again had Equity.
Many people have been waiting a long time to have equity.
Now that they do, they can finally make the move they have been putting off.
We are now seeing a rise in the number of Listings.
Days on Market has been rising as well.
Now is the best time to Sell in the past 5+ years. ( for Sales Price)
But it needs to be priced right.
Still a great time to Buy.
Interest Rates are LOW.
And now Buyers have several houses to choose from.
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