In case you missed Friday's show, which also featured an informative and important presentation from Stump Property Management, we discussed some disturbing numbers from the January Lehigh Valley Association of Realtors Market Update.
To sum up, January was a rough month for the market, with double-digit losses reported month-over-month as well as year-over-year.
Sales were down more than 22 percent from December, which in fairness was better than normal due to the run of unseasonably warm weather. Average and median sales prices fell also, and new construction prices took a sizeable dip as well.
Average market time also increased significantly, for inexplicable reasons. What we think may have happened was a harsh swing the other way regarding weather, keeping more people at home and less out looking for new homes.
We'll be keeping a close eye on February's numbers, which we hope show a turnaround.
Sunday, February 11, 2007
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