Nothing "out of the ordinary" for December as far as sales go. The stats show that it was a challenge for many sellers this year. Record low sales, lack of buyers, and an overall bleak market attitude played roles in sales performance.
Maybe the reason for the lack of sales was the lack of inventory? Not the case here. We actually broke the record for all time inventory peak this year, and we remained well above the norm for the majority of the year.
Ending on a positive note, or some would think it negative, property value remained high. There was many more listings on the market at the beginning of the year that listed high, but as the seasons wore on, they slowly started to correct. Not just a challenge to sell this year, as we witnessed somewhat of a similar market in 2012. Many sellers are ready to wave goodbye to 2013, and welcome in 2014 with hopes of renewed energy and improved market factors. If not, some will be faced with alternate methods of mortgage burden relief such as renting, or a lease to own type scenario. Buyers in most areas still have the upper hand going into 2014, and nothing as of now is pointing towards that changing any time soon. Thanks for stopping by and Happy New Year!
Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over twelve years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah