I’m still in New York for the Inman Connect conference, but wanted to post the Charlottesville Area Association’s year-end real estate market report. More analysis to come, as well as the forthcoming Nest Report.
Delve in, ask questions, point out errors and ask for clarification. I’m looking forward to reviewing this when I get back to Charlottesville.
Update 14 January 2010:
A quick point regarding this paragraph in the market report:
For now, we will continue to watch the inventory of homes for sale and the number of foreclosures that happen in our local market. If we see inventory levels continue to decline and the pace of foreclosures stays steady, we can expect prices to start creeping up. If inventory climbs again and the overall economy and home financing see further troubles, 2010 may end up being a repeat of 2009.
Looking at the RealtyTrac trends for the Charlottesville area:
Personally, and I will expand on this later, I think foreclosure and short sale trends are picking up.
More to come.