July Statistics show The Eugene and Springfield Housing Market Hits the Skids!
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Good Monday Morning! The statistics are here for the July 2010 Eugene and Springfield area Real Estate market and as expected our local market took a sharp down turn. Closed sales were down by 33.7% from July of 2009 and were also down by 34.3% from June of this year. Pending sales were down by 17.4% from last year and new listings were up 8.1% from last year. There was 11.9 months of active inventory for July of this year, which is up considerably from July of 2009 when it was 6.2% and from June of this year when it was 7.2%. The average home price fell slightly and stands at $225,000. These numbers are not surprising due to the fact that the buyer tax credit sucked home buyers out of the future and left a vacuum of buyers after it ended. The fact is that with mortgage interest rates at historic lows and with lower homes prices and higher inventory those who bought during the tax credit most likely would have been better served to have waited and purchased now. Of course, if interest rates hold steady and home prices continue to fall, there will be even better purchase opportunities in the months ahead. Have An Awesome Week! THIS WEEKS HOT HOME LISTING!
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2644 Suzanne Way, Eugene OR 97408
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