See, you have to really listen to the bottom line. It's just like last year - it's not that there is an INCREASE in prices - it's that the reductions in prices are decreasing. That's after homes selling for so much less than the year before and the year before and the year before. This means BOTTOM HAS HIT since last year this time. And the homes that are still on the market, will obviously have to decrease their prices even more to sell this year.
WHAT THEY AREN'T TELLING YOU is how few buyers there are out there. But, that number has increased from the year before and the year before - so we all expect it to increase this year. With the inventory lower and the buyers increasing that does mean it is slightly nudging up to a seller's market! BUT, if the prices started rising or the interest rates - either or both would slow the market again.
LAST CHANCE FOR LOW INTEREST RATES, LOW PRICES, AND GOOD INVENTORY!!!
If you're interested in the mountain and lakes region of NE Georgia and SW North Carolina - give me a call today!!!
http://industry.truliablog.com/housing-market/fewer-markdowns-on-for-sale-homes-this-bargain-season/
Fewer Markdowns On For-Sale Homes This “Bargain” Season
Now is the bargain real estate season: asking home prices typically hit their seasonal low point from November through January. This winter, however, markdowns are harder to find. Among all non-foreclosure homes for sale on Trulia, in early January, 33.6% of homes were priced lower than their original listing price. (For homes originally listed more than six months ago, we compared the current price to the price six months ago, not the original price.) One year ago, in early January 2012, 36.7% of homes for sale were marked down from their original listing price.
However, the national average of 33.6% hides huge local differences. In January 2013, the share of homes with price reductions ranges from just 15% in Oakland to 48% in Springfield, MA. Among markets with the fewest reductions today, Miami and Fort Lauderdale stand out as the two locales that also had relatively few reductions one year ago, in January 2012. In contrast, Las Vegas and the seven California markets that round out the top-10 list all have far fewer reductions today than a year ago: in these metros, markdowns have become much harder to find.
link for full article...
http://industry.truliablog.com/housing-market/fewer-markdowns-on-for-sale-homes-this-bargain-season/
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