Prices, however are still near bottom. Over the past year they have been bouncing between $700K to $800K and while showing signs of stability, there's not much sign of appreciation, except for the low-end and some really desirable properties.
Another sign of improvement has been days on the market. Last May, it took 106 days for a home to sell, this year it is down to 46 days. This has been a remarkable improvement. It's too early to really know if this is a permanent trend or just a momentary reprieve. There is still plenty of uncertainty, lots of people still defaulting on their mortgages and a new wave of government employees are loosing their jobs. No crystal ball here to tell us how things are going proceed, only time will tell. |
