Our friends at First Centennial Title have released their Market Condition Report (MCR) for December. (Click on the report below to enlarge.)
Commentary from December’s MCR…
The [top] table represents the last 13 months of activity. Notice that all price trend indicators remain positive (green) which means prices are rising at an increasing rate. See the upper side of the price schedule (average price) is moving in lockstep with the median price scale. Observe also that demand is moving up at the rate of 4 closings per month. This rate of increase in demand is down from last month by 2 units, and is behind last year by 25 units, signaling a slowing in demand in the short run. Because the ratio of supply to demand remains very tight (and still in decline), the current rise in prices will most likely continue.
Related post: FCT’s Market Condition Report – November 2012