Marin real estate appears to be ending the year on a high note. November ended with both single-family home sales and prices in the positives, up 23% and 8% respectively from the same month a year ago. Condo sales were down slightly by 4%, but prices increased by nearly 6%. The numbers were impressive enough to get a whole range of pros and pundits to declare that 2012 was the first true year of the long-awaited real estate recovery.
While I am very encouraged by nearly half a year of great numbers, I am not about to wave a flag of victory. Real estate seems to be the only economic sector showing any signs of growth. There seems to be no way to avoid the fiscal cliff andEuropeis not getting any better. Jobs are improving, but not at the rate we’d like to see. So I am still holding my breath.
But……if you’re in the market for a house, you may be in for a tough ride. Prices are rising, inventory is scarce, competition is fierce.
Select this link to read the monthly housing report from Marin’s Independent Journal