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December 2012

Found 2 blog entries for December 2012.

November 2012 Combined Residential & Condominium SALES Summary by Area/County

November 2012 Combined Residential & Condominium SALES Summary by Area/County

 

Analysis:
• Average Days On-Market (DOM) for the entire MLS decreased from last year by 15 days, from 89 to74.
• Overall, YTD sales are up by 8.9% compared to last year. Of the 5,506 sales closed in November of this year, 11.3% (620) were
identified as short sales. 2,366 or 43% of all sales this month were identified as cash sales.
• The median sale price for all MLS sales increased to $87,550 – this is up 25.1% over last year.


Synopsis of Inventory (November 2012 vs.November 2011)
• The on-market inventory declined by 18.4% from 29,209 in November 2011 to 23,829 in November 2012.

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Price Increases On The Horizon

This winter home prices were expected to remain considerably low, but that will not be the case for long. Many reputable sources (CoreLogic, FHFA, LPS, Case Shiller) have projected prices to continue rising though the spring and beyond. 

Shrinking Market Of Available Homes

Many people entering the buyers market today are unaware of the significant decrease in available homes. The ideal family homes in preferred neighborhoods are being sold quick. There is no better time than now to buy your dream home.

Projected Rise Of Interest Rates

The 30-year mortgage interest rate is expected to be at 4.4% by the end of 2013, reported the Mortgage Bankers Association. This is an increase of approximately 1 full point from the

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