Doesn’t that headline just jump out at you? It did when I saw it in the IJ (Independent Journal) a little over a week ago. What I find particularly interesting is that we had such an increase even with such diminished inventory. Yes, inventory is still way below what we’d like to see, so the increased sales is an indication of just how home-starved all these buyers are. What’s more, the sales are starting to happen at all levels, not just the low-end, distressed properties.
One added point. What about the prices. The Median for single family homes rose a modest 2%, while condos rose nearly 10%. Together, BAREIS MLS statistics show the median price of ALL homes rising about 6%. That’s good. Condos are usually the most volatile, homes less so. I am glad that homes aren’t going off the charts, because I’d start to worry that we were looking at another inflating balloon. Hopefully not.
Read the IJ article in full: Home Sales Rise in 2012