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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 –

October 2010 12

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.

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Cari McGee

Hi, I'm Cari McGee. 👋 I've lived in the Tri-Cities since 1994 and I've been a licensed Realtor® since 2004. That's a lot of local knowledge and real estate experience that I put into every article you read on my website! We've helped more than 560 families buy or sell property in the Tri-Cities. In 2023, our community voted us the bronze winner for Best Real Estate Team in the Tri-Cities Best voting. Learn more about me by clicking the link right above. And if you have any questions, get in touch anytime!

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