My New Blog

The end of the year sales stats are out. They show that 2011 was a year of stabilization and the "market is falling" scenarios are past us.

Pending sales were down just 2.3% from last year. That's not a significant difference.

Inventory of homes dropped by 8.6% which means there were fewer homes on the market to choose from. We still, however, have about 11.7 months of inventory on the market so until that number reaches 5 or 6 months; we are still in a "buyers market."

The good news is that median sales prices reamined the same as last year and average prices dropped only 3.4%. Those barometers show us that the "floor dropping out" of home prices was not an issue for us in the Capital Region last year. With more and more companies coming to Albany providing jobs and providing the national economy at least stays the same... we should be in for a great spring and summer season ahead.