Well true to form, what goes up must come down. Thankfully for Keizerites, the correction seems to have come and gone for the most part. Keizer Oregon real estate has been pretty much flat-lined for a year. The second quarter statistics are continuing that same pattern. Inventory is running at 7.7 months right now, which is decent, but it would be nice to see it a bit lower. The average home price was down just a mere 1.5% from last year, and currently is $196,030.
Home sales in Keizer Oregon
Keizer home sales were up, but that isn’t a surprise. The tax credit helped to boost second quarter numbers, but also 2009 stunk so bad in the Salem metro area, it would have been really difficult to beat those dismal numbers. Technically home sales were up 59% this quarter over 2009, but some of that is caused by the tax credit. I still think without the tax credit these numbers would have gone up anyway.
Keizer Oregon Foreclosures
So home prices are essentially flat after a big drop last year, home sales are up, but what about foreclosures. Now, I talked the other day about the CoreLogic data and their Salem data includes Keizer, but Keizer has its own identity. Foreclosure notices are almost essentially the same as they were last year. Not much of a drop for Keizer data.
So what does all this mean?
A whole lot of nothing…little movement up or down, in my opinion. Keizer is just hanging out in purgatory while it waits for those notice of defaults to come down. Then we will start to see a slow steady climb out.
The home sales and home price data was crunched from the WVMLS. Foreclosure data was crunched from data provided by Fidelity National Title.