Well the stats aren't out for January, but the market has definitely been active. Our sales look like they will be in the 600 range, which is low. Normally we see 900 to 1000 homes selling in January in previous years, so we are obviously off in sales just like December 2008. But, there is definitely a change in the air. I am out showing this evening and half of the homes we wanted to view in the $350-$375000 price range are pending or sold. The market has appeared to be gaining speed since the year began. Our listing inventory looks to be in the 6700 range (versus 6300 at the beginning of January), so that is a gradual buildup and not a huge concern.
On my listings, the showings are way up versus December. I've been speaking with other Realtors as well as Mortgage specialists and everyone is noticing a ramp up in activity. Personally, I still do not see a return to 2006 or 2007 price increases, but there is a good chance that we have reached the bottom of the market and are turning a corner.
I will post an updated graph showing the inventory and sales when the official numbers come out.
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