December 29th, 2010 Categories: Market Updates
According to The Wall Street Journal, housing prices will be heading down in 2011 for just about all areas of the U.S. It looks like Montgomery County and the Metro Washington D.C. area will buck this trend. Our area was only one in four (the others – L.A., San Diego and San Francisco) that measured increasing home prices in October 2010 compared to 2009.
Here’s a snapshot if inventory taken mid-month. Many homeowners who were unable to sell in the fall will remove their home from the market until spring. And, few new listings enter the market this time of year. The exception – bank owned properties and short-sales. So even though the total number of distress sales has been relatively flat since July, it represents a bigger percentage of the total market as “regular” inventory has declined.