November Tri-City Real Estate Stats

Things were not good in October 2008.  The recession had just begun, no one knew whom the next US president would be, and local home sales reflected that.  October closed sales were down significantly, and the number of homes that went under contract was dramatically reduced as well.

So, looking at this chart, with October 2010 closed sales matching the low number from October 2008, why am I not wringing my hands with concern?

Because of this chart –

Look at the number of homes available in October of 2008, and then available in October of 2010 –

In 2008, we sold 17% of the inventory, in 2010, we sold just under 24% of the inventory.  That’s a significant difference which indicates a healthy market.