Posted by Cathy Hunnicutt on Monday, May 16, 2016 at 2:59 PM By Cathy Hunnicutt / May 16, 2016 Comment
The chart below is an attempt to look at where prices are going in the immediate future. It compares the last 2 months of sales to what is currently under contract (AC/P). What is currently under contract seems to represent roughly the next 2 months of sales. It assumes that those properties under contract will sell for 95% of their current LIST price.
Active inventory continues to hold steady at around 5k units. However, under contract units is up to a very high level of over 4k units.
The median list price of the active inventory continues to rise. Short sales and foreclosures now make up less than 3% of all active inventory.
The future prices chart continues to look excellent!
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