Friday, March 16th, 2012
February was the eighth consecutive month of annual gains in home sales, thanks to great weather, low interest rates, and competition from other buyers. In some cities, inventory is so scarce that homes are selling even before they hit the market. Remember those days? In the past few years there have been plenty of choices for buyers, but in the past few months the story has changed. When you see the home you like now, you need to move on it quickly or you may miss out.
This is not to say that the market is out of the woods yet. We have a ways to go still. Last month foreclosures and short sales still represented about 60% of all sales in the metro area. Still though, we are off to a hot start for 2012. Lets keep our fingers crossed that this is an on going trend and we are only seeing the beginning. Here's to a great 2012!
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