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Monday, May 17, 2010
Housing Sales Back?
The glut of homes for sale in the Washington area has shrunk dramatically since the housing market's darkest days in 2008, and supply is now close to healthy in some spots. The number of area homes for sale last month was down 25 percent from April 2008, when supply was swelling to record highs after the credit market dried up and buyers retrenched, according to the most recent data from the local Multiple Listing Service.
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I live in the DC suburbs. In the past month, 2 of the 3 foreclosed homes(vacant) have been purchased by renovators. Which, is good news I guess. We're looking to sell this summer, we're ok with breaking even at this point.
It doesn't matter what the numbers say. As long as Obama is in office, the far right will preach doom and gloom. Just as the far left did during Bush.
How many are getting picked up by speculators (taken off the market)?
How many have converted to rental when they wouldn't sell (taken off the sales market)?
Not preaching doom and gloom because Obama is in office. Just looking around our own area and seeing this happen.
The American Dream is almost dead and a way of life will go with it.
In Wicomico County in April, which should have been a strong month with the expiring federal tax credit, historically low mortgage rates, and low-balled priced houses, only 6 out of every 100 houses (6.3%)for sale sold. That's pathetic. Real estate agents have to be dropping like flies in this area. Conversely, in Howard County, 25 out of every 100 (25%) houses for sale in April sold.
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