Here is an article that was put out this week by CNN on the real estate market and some predictions. http://money.cnn.com/2010/11/01/real_estate/housing_market_state/index.htm?source=cnn_bin&hpt=Sbin
The local market seemed to perk up a little this week. The number of showings did not increase this week but it looks like some of the buyers that have been out there shopping actually wrote contracts this week.  A little more motivation to buy. Maybe their thought process is that interest rates will not get any better and I agree with them. The inventory dropped significantly this week from 53 single family homes on the market in 20171 to 38 homes between $375,000 and a new listing at $1,889,000. The buyers will find themselves with not many choices. To see the two new listings, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-127918182-782.  The strongest competition in list price is below $550,000. We had 5 homes sell this week - which is twice as many as we had sell last week. To see those homes, click http://mrislistings.mris.com/Matrix/Public/Portal.aspx?k=524916XJRPL&p=DE-127918368-746. When the government $8,000 program was here, houses were selling in 5 to 20 days if they were priced well and showed well. You can see from the time on market with these recent sales, it has moved to more in the 45 to 90 day period.