Tuesday, March 5, 2013

Shrinking Home Inventory...Where are the Homes going?

Don't look now but the home you want has been sold!!

No it hasn't gotten quite that bad.  Yet if you look at the numbers, you could get that sensation.   

In Hampton Roads(consisting of Chesapeake, Norfolk, Virginia Beach, Suffolk, Portsmouth, Isle of Wight, Newport News and Hampton), 10511 homes are on the market.  This is over 4000 homes below the roughly 15000 homes that caused concern in 2009/2010.

Take away the 1442 homes under contract, only 9069 homes remain available for a home buyer to purchase. 

Excluded the still lethargic $500,000 and up market, there are less than 7000 homes available to home buyers throughout Hampton Roads.   And Hampton Roads market has a population of roughly 1.7 million people.

To see the really hot price points by city, click on the link below

http://rwhub.com/Object/Download.ashx?fid=3186

No doubt the market recovery is great to see!!!

Do you see it the same way???
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