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Real Estate Inventory Possible Cause For Alarm

Long Cold Winter – Slow Sales, Prices Mostly Steady except for Hot Spots

 
PRLog - Apr. 2, 2014 - PORTSMOUTH, N.H. -- The Seacoast Real Estate Investors Association just published it’s monthly “Market Snapshot” on real estate trends.  Founder, Bert Cox says, “The long, cold, and snowy winter definitely put a damper on winter house shopping but I am optimistic that the recent break in weather will make for a good spring market.”

Prices have stayed flat except in hotspots like the seacoast region where prices continue to climb at double digit annual rates.  Rockingham County saw a 12% annualized increase in prices but more than 6% drop in the number of sales.

The report raises some concerns over the rapidly rising inventory levels as high as 11 months in some counties.  Six months inventory is considered balanced and most counties were much closer to balanced just a few months ago.  Is the high inventory a harbinger for a buyer’s market and sliding prices?

The real estate professionals, investors, and of course sellers, are all hoping for a strong spring market and early signs suggest that they might be right.

You can see the full report for free at:

http://www.seacoastreia.org/

Contact
Bert Cox
***@bertcox.com

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Source:Seacoast Real Estate Investors' Association
Location:Portsmouth - New Hampshire - United States
Industry:Real Estate
Tags:Bert Cox, seacoast REIA
Shortcut:prlog.org/12304522
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