July 12th, 2010
What is the Ada County Real Estate market actually doing?
If you have been reading the local newspaper lately like I have, one might wonder what is actually happening in the real estate market. In the past month I have seen the following headlines:
“Low prices, cheap loans: But where are all the home buyers?”
“Home-sale contracts fall off cliff in May”
“Home prices rise in 20 major cities as buyers rush to obtain tax credit”
“Foreclosure sales decline, but housing recovery still has far to go”
“Foreclosures in the Treasure Valley fall for second straight month”
“Home sales rise slightly in Treasure Valley”
Confused? So are many other local buyers and sellers. The June market statistics are out on the table and the results look surprisingly positive. Despite the end of the government backed tax credit, June pendings in Ada County rose. Buyers are still entering the market with other incentives available like low interest rates, low prices and investment opportunities. As the Ada County for-sale inventory drops and the foreclosure rates decline, current homeowners can look forward to a more stable market. Buyers, don’t miss your opportunity to buy into the rock-bottom market.
In short, the Ada County real estate market is becoming slightly more stable everyday. Higher June pendings without a government stimulus gives me comfortable optimism that the market is beginning to recover. Look for market statistics provided by your Realtor for the most up to date information on the market specific to your area. Regardless of market conditions, real estate deals are made everyday in Ada County. Real Estate still is and will always be a fantastic investment in your local economy, a great way to build memories, and a starting point to the American Dream.
For more detailed information on market condition specific to your area…send me an email at cbaldwin@windermere.com, or visit my website http://chrisbaldwin.mywindermere.com . Happy Selling and Buying!
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