Single family home sales for the opening 2 weeks of 2012 have been somewhat of a laggard, down -11% from the same time period last year and off -25% from the average of the previous 10 years. With a total of 249 sales, it surpasses only 2009’s fourteen day tally.
Condominium sales on the other hand are up almost +13% year-over-year, with 98 transactions. However, that’s still trailing -17% behind the 10-year average.
With banks offering record low fixed rates of 2.99%, we’ll see how much of an impetus this will have on buyers in the coming weeks ahead as the real estate market also shakes off the holiday season doldrums.