The Salem market made a swift turnaround, like many areas of the country. In May, it was the best home sales (for single family homes) for three years and it was only eclipsed by the year that there was the tax credit deadline for June. Spurred by low interest rates, a housing price bottom, [...]
Phew. Agents have been sweating the market filled with insane underwriters, oversupply, and distressed homeowners. It hasn’t been easy for anyone. The good news is that 2012 was better. Not great mind you, as the economy is still struggling, but real estate agents working the Salem area finally took a collective breath and said “about [...]
Well May has ended, yes I know I’m slow getting this data out, and it is time to look at the local market for Salem. If you talk to most agents you will hear that the market has improved this year. It’s partially true as home sales have gone up this year. Home prices are [...]
The first quarter came to an end a couple of weeks ago which means we have a bit more data to work with regarding home sales. I know some of you are armed with tax return checks and wondering if it might be time to dive into the real estate market. So here’s my opinion… [...]
Last year my crystal ball was off by 1.6%. You’ll recall, I failed to eat my Wheaties and ended up erring on how much the market was going to correct for 2010. For 2011, I guessed 5-7% with a possible 10% correction at most. Well, Salem Oregon maxed out in 2011. The average home [...]
The average and median home prices have been hovering in the $150,000-$160,000 range for most of this year and August was no exception. With sales of more expensive homes incredibly lackluster with no change in the foreseeable future, this is going to be where home prices will continue to stay. The nice thing about August [...]
Last year, at the end of June 30, the tax credit ended. July was the first independent month that the real estate world had last year and the statistics were dismal. It isn’t suprising, then, that we sold more homes this July that last July. It was kind of hard not to. That said, it [...]
As you know if you read my post from last month, Salem was named one of the worst real estate markets in the country based on NAR real estate data. You can read how I feel about their data in that post. I won’t rehash it here. What I do want to talk about is [...]
April 30th of 2010 ended the eligibility for the home buyer tax credit. No big surprise that home sales were down year over year as a result. Year to date sales are down 2.8% year over year. I think this is pretty good considering the unnatural boost that happened in 2010 due to the [...]
Bummer. I kept thinking I didn’t need to do laundry, clean those toilets, or do market reports this month as I was sure that I was going to be gone on the 21st. What is the point of crunching market data if I was one of the chosen? Unfortunately, it does appear that Lucifer and [...]
