News from our local Board statistics reinforce that real estate really is local. In spite of all the dreadful news we keep hearing, compared to last September, single family residential sales are up 1% while townhouses and condos are down 2%. Existing home sales are up 1.4% for the same time period. Existing home sale median sales price is unchanged when comparing September 08 to September 07. Inventory is down 7% while pending inventory is up 0.9%. The Housing Affordability Index jumped to 164 in September because of slightly falling mortgage rates. Overall, September 08 vs. September 07 shows more market improvement than a year over year, year-to-date comparison.
In my own micro world of real estate, my statistics from last year to this year compares favorably. Hopefully, my 2009 will continue to buck the negative news in the media and will compare equally well.
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