Month to date October 2010
Net Unconditional Sales: 251
New Listings: 539
Active Listings: 3,963
October 2009 totals
Net Unconditional Sales: 742
New Listings: 1,067
Active Listings: 3,219
Single family home average price is currently $612,385. New inventory is only slightly outstripping sales, expect the active listings number to fall slightly for the remainder of the year. Affordability is still an issue, although ridiculously low five-year fixed rates are likely responsible for more than a few sales.
I came across this article in the G&M over my morning coffee. You should read it:
even excluding major factors such as taxes and maintenance, homeowners pay about twice what renters pay.
Please note, the decline in mortgage versus rent payments is an interest rate effect, mostly. Declining interest rates will narrow the gap. Rising house prices will widen the gap.