Market Update-Nationwide November Sales Explode!

Some very positive news released by the NAR today,  an increase of 33% in November 09 vs 08. As many may suspect the tax credit had a large role in this increase however the result has more of a positive outlook then just a sales increase. The increase in sales volume has left the nation with a standing inventory of 7.99 months vs over 12% in Nov 08, and in Real Estate terms, 6 months is considered a balanced market! This is the more important number for the country to focus on.

As Real Estate goes, as does the economy, and as we near a balanced market, we are growing steps closer to stabilizing our economic position.

For all the stats see here

homesalesnov2009

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