Thursday, January 14, 2010

The DP Peeks at CAAR's 2009 Year-End Report on Charlottesville Area Housing Market

The lack of hard data in the article just might leave your head spinning. ;0) Read.

The report itself, which will be available here (Th/14th) will have more data...and this blog will have an overview of the data, putting it in the context of the past few years, in due time.

Related:
Low Pending Sales & the Shrinking Pool of Local Buyers 
 To Buy or Not to Buy
DP on Homebuyer's Tax Cred
Higher-Priced Homes Sell at Snail's Pace

2 comments:

Buyer 2010 said...

Realtors and bad reporting getting blasted in comments section of the DP, as they should be. Don't miss.

michael guthrie said...

Check out my most recent blog at www.roywheeler.com/real-estate-blog
There is certainly signs of improvement in the real estate market when you compare number of sales from a year ago but writers are exactly right that prices of homes continued to come down. If you have followed my comments here over the last year, things have happened pretty much the way I (2009 CAAR president) and Greg Slater (2010 CAAR President) thought they would. Slowly but surely numbers of homes sold did in fact catch up with what was not a great 2008. One of the DP comments mentioned the glut of inventory (14 months). This is the wild card for any type of rebound (defined as home prices going up) and I don't think we will see a significant change in inventory any time soon due to folks putting their homes on the market for the Spring market, short sales, foreclosues, etc. Therefore, sellers still need to be very careful in how they price their home and make sure it is well staged and in good condition. Until we can see a vast improvement in number of homes on the market, I envision 2010 not being much better than 2009