September 5th, 2010 Categories: Market Updates
National media has recently reported that pending home sales dropped significantly last month. Here in Montgomery County, we did see a big drop in contracts when the tax credit expired at the end of April. Since then, has contract activity continued to plummet?
So for our market, contract activity has been relatively flat May through August. Contract activity for August was up compared to July and higher than August 2009. Looking at the first eight months of this year, total contract activity is up 8% over 2009.
Still, all trends don’t point in the same direction. Total inventory has increased just about every month this year. Later this month, I’ll drill into these stats by areas and price ranges to get a more detailed picture of our market. Until then, contact us anytime with questions about our real estate market in Montgomery County.