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Mahoning Valley Market Report (MVHR) - December, 2010

Mahoning Valley Home Prices Prove Stabile in December, Median Price Sold (MPS) Sees Year Over Year Increase.

PRLog - Jan. 4, 2011 - YOUNGSTOWN, Ohio -- According to the latest RE/MAX Valley Real Estate’s Mahoning Valley Housing Report (MVHR) in December sales of single family residential home were substantially higher both month over month and year over year, a display not seen since the end of the tax credit in June.

Other data show that although the Valley real estate market is still struggling to find secure footing the tri-county area, the trend is finally decidedly toward price stabilization.The Supply of Active Inventory (SAI) and Absorption Rate Index (ARI) data took baby steps in a positive direction, while the Medium Home Price index (MPS) remained constant despite both dire predictions and solid evidence of falling home prices elsewhere.

“While home sales usually decline in the winter months, the Valley actually saw a larger than normal improvement this month. The effects of artificial factors like the expired tax credit,” said Jack Pearce, Broker, RE/MAX Valley Real Estate, “finally seem to be behind us and we can look forward to slow but steady improvement in the months ahead.”

“And despite predictions about falling home prices, Valley home prices have remained remarkably stable, ending the year exactly where they where at the beginning of the year. Ordinarily that would give us pause, but considering falling price data from our nation as a whole, ‘no change’ is very good news.”

See Full MVHR Report with current and historical data charts - http://www.ourvalleyhomes.com/mvhi/default.htm.

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About RE/MAX Valley Real Estate

RE/MAX Valley Real Estate, located in Boardman, Ohio, is an independent, locally owned, and locally operated franchise of RE/MAX LLC.. It was founded in 2000 by top producers for top producers. Their agents rank number one in the Mahoning Valley for average associate production and average volume of sales. RE/MAX Valley services the real estate needs of the Mahoning Valley, Trumbull, Mahoning and Columbiana Counties.

Serving the real estate needs of the Mahoning Valley in Northeast Ohio for over ten years. Mahoning Co., Trumbull Co. and Columbiana Co.

Nobody sells more real estate than RE/MAX. Outstanding agents, outstanding results.

For more information please visit http://www.OurValleyHomes.com.

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Source:J.Pearce, RE/MAX Valley Real Estate
Location:Youngstown - Ohio - United States
Industry:Real Estate
Tags:mvhr, mahoning valley, housing report, home prices, mahoning, trumbull, columbiana, youngstown, warren, Real Estate
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