The bottom has come and passed

This is the story about the market that was.

If you want to know when the bottom of the market was in Manatee County for single family homes that was between October and November of 2008.

There was more than 20 months of inventory on the market according to Trendgraphix.

Since that point sales and pending sales have continued to climb and available inventory has continued to drop.

You can listen to the nay sayers who talk about a lot more foreclosures coming on the market and doom and gloom or you can look at the cold hard facts.

We are now down to 6.4 months of inventory on the market as of June 8, according to Trendgraphix.

Overall we are now in a neutral market, under 5 months of inventory is a seller's market, over 7 months is a buyer's market.

There is a larger number of homes available as the price point goes up but for those looking for bargains in the lower end of the market inventory level has plummeted.

Lenders it appears are getting smarter also, instead of flooding the market with foreclosures they appear to moving more cautiously.

Market stability for housing in our community appears to have arrived.


All the best
Greg Owens PA
Keller Williams On The Water
941.932.6343
greg@teamworksfla.com