The final month of year-over-year comparison to last year’s tax incentive market
is upon us. It bears repeating that April 2010 enjoyed uniquely strong activity
due to the approaching credit deadline. Let’s see how this pivotal month played
Prices were still soft. The Median Sales Price declined 3.3 percent to $173,065.
Days on Market decreased 1.2 percent to 110 days. The supply-demand
balance improved as Months Supply of Inventory was down 10.8 percent to
Nationally, the interest rate is 5.0 percent on a 30-year fixed conventional and
the unemployment rate edged up to 9.0 percent in April, even as the economy
added 244,000 jobs. Job seekers showed more confidence, a potential
indicator of future housing demand. Moving forward, expect a different story to
unfold in our market. We’ll soon be comparing current activity.
See all the indicators: Download the April 2011 Indicators (PDF)