Tuesday, May 12, 2009

Is The Housing Market Turning?

Good Morning America aired a story this morning about the every changing Real Estate market. The good news, as reported by local (Emeryville based) Online Real Estate Brokerage ZipRealty, is that inventory is going down across the country in several markets.

Inventory has decreased from over 11 months down to about 8 months. The result should be with fewer homes on the market prices will stabilize.

For us here in Alameda, as reported in yesterday's numbers, the news is not yet relevant both inventory and sales have remained relatively constant with over 5 months of inventory at the current sales rates. As always we will continue to monitor inventory to see what direction the Alameda market is heading.

Boo to ABC for not having an embed feature. Here is the link and a screen shot of the video player.

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