Here is what you need to know The light green bars are the homes for sale in each given month.  The dark green bars are the ones that have sold in each month.  The red line are the pending sales for each month. 

A few comments on the numbers.  Obviously there are many more homes for sale this June then prior to the recession.  Still the numbers are down from a year ago and suggest some improvement in the market.

Sales However are similar to last year suggesting that buyers are not more willing to buy this year then last. 

The red pending line however is markedly different.  It is sharply up over the past several months.  This is partly due to the first time home buyer tax credit and some is due to a seasonal uptick that we see each year anyway.

One more thought that I will leave you with.  I saw a statistic that first time home buyers make up approximately 50% of the market right now.  That is up sharply from the typical 25-30% of the market they typically occupy.  I have to say that many of my current clients are first time home buyers, so I am seeing the effect of the tax credit.

There is some noise in congress to extend the first time home buyer tax credit to all buyers and extend it into next year. 

I’ll keep you posted on that.

Give me a call if you need help.

———————————————————————

Rob Graham, Accredited Buyers Representative

Windermere Real Estate

206-321-6349

robgraham@windermere.com