Friday, February 13 2009
In our last Market Watch e-mail, I mentioned that the four States most affected by a decline in real estate sales and prices were California, Arizona, Nevada and Florida.
This month I have both some good and bad news about those states.
Many markets in California and Florida are already showing improvement over their performance a year ago. Although some of those markets are improving they are still not as healthy as our Tri-State area as evidenced by a chart I recently saw listing both the most risky and most stable markets in the country.
The risky chart included 6 Florida cities, 3 California cities and 1 in Nevada.
The stable chart was dominated by “Middle America” and included 2 cities in Ohio as well as Indianapolis. (Evansville’s population was not large enough to be ranked in this particular survey)
Another interesting article I read pointed out that the median home price nationally declined 15.3% last year. You should be relieved to know that the median price in our local market declined less than 4%. As I pointed out last month the national media’s description of the real estate market does not necessarily apply to our market.
I hope you saw the news about last month’s merger between F.C. Tucker Emge Realtors and The Realty Group. We now have more Realtors and more services that can help you when you are ready to buy or sell.
Give me a call 812-499-9234 if I can help you with any of your real estate needs and don’t forget to ask me about today’s mortgage interest rates, you’ll like what you hear.