January 2013 Residential Real Estate Report

Historically, January is a quiet month in terms of home sales with activity picking up in the spring. The fear of the Fiscal Cliff may have kept a few potential sellers from putting their homes on the market in December, but it’s hard to say. Over the last few months the numbers have bounced up and down but stayed relatively in the same range. We know that the economy and the real estate market are healing and this healing process will take time. When we compare January of 2012 to January 2013 we see a positive trend in terms of sales price. Take note that the inventory for January 2013 is very low compared to January of 2012, but this lack of inventory continues to drive sales prices higher. Click here to read the full report.