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Market Trends Report - January 5, 2012

Good News for Sellers and Buyers
We start 2012 with just 3.2 months of supply (active listings divided by December's sales) for all areas & types. This is the lowest reading for any January in the last decade with the exception of January 2005, at the height of the bubble buying frenzy. This includes all the AWC (active with contingent contract) listings as part of active supply. Since many buyers are uninterested in bidding on homes that are already under contract, even if those contracts are contingent, we can argue that the effective supply position is lower still. If we take all the AWC listings out, then the months of supply falls to 2.2. For contrast, look at January 2008 when the reading was 15.2 months. --Cromford Daily Observation
The writing is on the wall - Sellers - start your year with a bang! We need new listings. If you would like to sell your home, this is the time to do it. Why?
  1. Less competition from distressed sales.
  2. Less competition period.
  3. Almost record activity -- 2011 monthly and total annual sales were only barely exceeded by 2005 (see monthly / annual sales below).
  4. High season; Snowbirds and visitors are here now.
  5. Interest rates remain at historical lows.
Footnote: Clearly higher-end properties have a higher number of months supply, which is always the true

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