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
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Subscribe by EmailDECEMBER 2012 LOCAL REAL ESTATE MARKET REPORT
7. January 2013 10:14Read 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,
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the absorption rate, or months supply of inventory, continues to fall across the board.
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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
http://www.roseandwomble.com/Blog/post/December-2012-Local-Real-Estate-Market-Report.aspx
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