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Friday, July 24th 2009

8:26 AM (240 days, 19h, 31min ago)

NATIONAL NEWS

National figures for June were just released and showed some positive signs. Existing home sales were op 3.6% in June and that's a jump for the third consecutive month. Inventory fell 0.7% which represents a 9.4 month supply. Another good sign was that the number of buyers looking for homes was up nearly 12% from June 2008. First time home byers accounted for 29% of the transactions. Distressed property sales accounted for 31% of the June sales. As you know realestate is local, but the Metro area is also showing some of those positive signs as well. We're also starting to see more buyers in the marketplace. We've been building pent up demand and some of that is starting to break loose. Our local inventory has been stable for the entire first half of 2009 which is great considering that over the last five years we have had increases in the first six months. As we keep saying, a little more light at the end of the tunnel. Know antone thinking of buying or selling? We always appreciate your referrals.

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