Catherine Nesset's Real Estate News

Market Summary for all FMLS areas, single family detached, new and resale: At the end of June 2009, there are 42,651 single-family detached homes (new and resale) for sale. There were 4105 single-family closed sales, and 9251 single-family new listings that month. Therefore, @9.3% of the single-family detached home market sold. Also, at the end of that month there would have been a 11.8 month supply of resale single family detached homes if no other homes had come on the market.

“Heading up but not out of the woods yet.” We have an uptick in average sales price but, we’re still not up to the levels of 2001 as per this report.

*** These are the latest stats for the last full month of statistics published by FMLS

Building permits for single-family homes rose 5.8 percent to 458,000, seasonally adjusted. That’s the fourth consecutive month that single-family permits have risen, according to MarketWatch.

BizJournals Aug. 18, 2009

Real Estate Outlook: Case-Shiller Reports Reversing

Aug. 4, 2009
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When the Case-Shiller index reports that home prices have reversed course and are finally rising again, and you know that Case-Shiller has been the gloomiest, scariest-headline-producing monitor of the real estate market for the past three years -- some say: We have truly turned the corner here.

Read the Full Story At:

http://realtytimes.com/rtpages/20090804_realestateoutlook.htm