Housing Market Statistics

When reviewing housing market statistics keep in mind that normally they are broad based and do not cover “pocket areas” that may be doing better or worse. The housing market is volatile and there is definitely no crystal ball which will advise us how to proceed. However the market seems to be holding its own in our particular area with a few exceptions. Although we definitely aren’t seeing the boom we saw just 2 years ago homes are selling if they are priced correctly. The market is cyclical and all indications from past history do tell us that we will be turning around…the time period for that is unknown. However we do know that we are at least 2 years into the decline. The good news for our particular area is that Phoenixville and some of the surrounding areas did not reach a full peak during the housing boom. When the market does make a turn around there will be equity to be won for those who purchased during the down market. Here is a link that will provide you with information on the current housing market. Keep in mind that the article does state an ability to have flaws and it was during a cold and stormy month. This can always effect a housing market whether it is a Seller’s Market or a Buyer’s Market. http://www.marketwatch.com/story/us-housing-starts-slip-4-in-december-2010-01-20?siteid=bnbt