Local Market Improves

Our local Real Estate Market has improved over the last few months. I'm not jumping for joy, yet, but we have seen an improvement none the less.

Bargain hunters snatching up foreclosures, home owners who pulled their properties off the market, and buyers starting to enter the market helped shrink out local inventory of available homes for sale to its lowest point since March 2008.

Total listing of homes for sale declined 5.1 percent in December compared to November, according to figures compiled from the Rocky Mount MLS.

Total listings at the end of December are a mere 1 percent higher than they were in December 2007 in areas serviced by the Rocky Mount MLS. This is good news!

Demand for housing increased in December and units sold at about the same pace as this summer.

This is the fourth consecutive month inventories have declined. We still have a saturated market but any improvement in inventory is a welcome development.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2009 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *Local Inventories Improve*

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