I just gave a presentation on the current market condition and the forecast for 2009. Attached are two graphs I utilized from the California Association of Realtors I wanted to share with you:
Graph #1 shows Home Sales Units hit bottom in 2007 and are increasing monthly in 2008. It also shows if we had not experienced the sharp increase in prices over the past few years; the current median price would be on track if the market had increased more steadily.
Graph #2 shows our Current Unsold Inventory level is falling and is currently at 6 1/2 months supply.
Please let me know if you like this information as I have much more I can share wtih you. If you have any questions, please don't hesitate to ask!
Lydia Gable