Home inventories are getting smaller, which is good news for home owners on several fronts.  First it means that the fewer homes on the market, the remaining homes on the market will sell faster.  Secondly the prices for homes will sell at a higher price.   Presently  home prices are adversely affected by distressed homes lowering the selling prices of competing non distressed properties.

           Home prices throughout the nation increased over 3% year over year, except in the west, which only showed an increase 1.8%.  This is still positive news for challenged home owners that are waiting to sell their homes at least at a break even.  These figures are also a signal that the troubled home market is trying to right itself with a better 2012 than 2010.

 

Don Schaller

Broker/Owner

Schaller Family Realtors

Dickson Realty, Truckee

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