Data Suggests Better Days For The Housing Market

by San Antonio Attorney

The Real Estate Data for March 2011 of suggests that the housing market might be experiencing better days ahead. The spring season usually presents a substantial increase of real estate customers, and the trend may beef up this year since the nation is emerging from the housing crisis.

The data of reported a notable slow down in certain downward trends that had persisted for a long time. Housing inventories increased by 2.27 percent in May, and they are currently 9.75 % higher than levels reported in the same time period during the past year.  But the comforting prospect is that the pace of growth is decreasing considerably. In February, for instance, the year-to-year improvement in overall listings was 17.33 %.

Median house values are climbing, although not evenly. The Southwest and Florida still ha a long way to go, but states such as New Jersey for instance, had a 6.04 % increase in only one month. Its national median price  is currently $199,500, better than February’s $199,000.

The average length of time that a house is listed before a buyer is found is likewise falling. The median period of inventory is still more than 200 days in many communities of Florida and the coast including Myrtle Beach, Ashville, North Carolina, and South Carolina. But homes in California, cities like San Jose, Los Angeles, Oakland, and  San Francisco are listed well under 75 days.

But probably the most reassuring news is the number of families looking for property keeps growing, and improving dramatically. When compared to this similar time period last year, the volume of searches using increased by 15.14 % in March 2011.  Additionally, the increase of searches figure surpassed the related increase in inventory, suggesting that finally, demand might be boosting in connection to supply.

If you have a troubled home equity loan or mortgage issues, contact a San Antonio attorney.  Though may suggest better times to come that may not be the case for everyone.

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