How is Real Estate Market Doing? Do you have a crystal ball?

“How is the Real Estate market doing?” is the question which I get asked the most, besides “where are you from?”

Well, there are many predictions out there about the real estate market, just like the weather predictions, 2012 predictions, is it a boy or a girl predictions? Who do you believe, who do you listen to?

I do not have a crystal ball and no one I know has one either…. I do like to look at statistics and share with you so that you make up your own predictions about when to buy, if to buy, when to sell and if to sell…. Should I wait to buy? Should I wait to sell?

Here I am, just sharing the information which is available to me as a Realtor from the Local MLS. You make up your own mind where you think the Real Estate Market is going… Some  look at the past to make choices about the present moment and/or  to predict the future… Does the past repeat itself? It is up to you…

Yes, the inventory declined by 4% July 2010 vs June 2010. We had 50,782 active listings in January 2010 so the inventory is higher compare to January by 21%. For the year, we are up 21% in active inventory.

Pending Listings which are waiting to close are up 1% comparing June 2010 vs July 2010.  Year to date, pending listings +2%.

Sold Listings which are closed transactions are down 26% comparing June 2010 vs July 2010.  Since we had record high month in June 2010 due to First Time Home Buyer’s Tax Credit.  Year to date, sold listings are up 30%.

Current Economic forecast is labeled as “modest” by The Federal Reserve’s board of governors last week.  It is a slow slog, we are recovering… The news can be discouraging if one gets guided by it…

I say consult a Realtor about  your specific situation and know your options…

Sebnem Oden, Realtor

206 619 3652

sebnem.oden@exprealty.com

www.ProKeyRE.com