Tuesday, January 8, 2013

http://www.roseandwomble.com/Blog/post/December-2012-Local-Real-Estate-Market-Report.aspx

Knowing the Market is so key to buying and selling a home.

Though there are many posts on the national market, you can always find the top news on Hampton Roads right here.

Being aligned with Rose & Womble provides me this wonderful look at December 2012 for our area.  

Read and enjoy


DECEMBER 2012 LOCAL REAL ESTATE MARKET REPORT

By Drose7. January 2013 10:14

Read this article in your language IT | EN | DE | ES


During the past 12 months 19,535 homes have sold, an 9% increase from the previous 12 month
period. Sales in November were 14% higher than during the same month a year ago.



All indicators continue to point to a housing market recovery.
Inventory is 30% lower than it was 2 years ago and at levels not seen since before the
housing boom. In addition, prices continue to stabilize and 
interest rates are at historically low levels.
further evidence of a stabilizing in prices.

Even though the winter months are historically a slower time for real estate sales, 
the absorption rate, or months supply of inventory, continues to fall across the board. 
Comparing inventory levels from May 2011 to now highlights how much the market has 
changed. In only 18 months, the market has shifted from a buyer’s to seller’s market 
across wide sections and ever higher price points in Hampton Roads. 
*Market Data courtesy of REIN, analysis by Rose and Womble. Deemed accurate but not guaranteed. Copyright 2012 All Rights Reserved
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Denise Rose
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