Our inventory hardly ever goes down for three straight months at the beginning of the year, but that's exactly what happened January, February & March of this year! This can't help but to give prices some support, and keep them from going down.
And the number of homes sold is not only running at "normal" levels for February, but has been solid for 3 months in a row - Dec '11 - 92; Jan '12 - 74; Feb '12 - 77!
And sure enough we see our average home prices back up into the $250,000 range, where it averaged for most of 2011.
And our median home price is flat at the $225,000 range.
There's no real estate gnome that comes out to ring a bell signaling the bottom of the real estate market, but if it turns out to be Jan '12, remember, you heard it here first!
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