The sun was out. There was glare in your eyes. Disorientation ensued.
Pigs flew. There is an ice dam on the river Styx. There were locusts.
I know I enjoyed our nice sunny weather that we had in some of January here in Salem. I’m thinking that some home buyers got out of their homes and decided it was time to take a look at some homes. The seemingly impossible happened here in Salem Oregon this past month.
Off to a nice start.
I finally get to say that something went up instead of down. That’s kind of cool! The average and median home price was up this January 2011 compared to last January. It wasn’t a huge jump, just a mere 2%, but isn’t nice to see some slowing down of home price declines.
While, I still think the market will decline overall by year’s end, a slowing of the decline and a flat line plateau would be a welcome sight to the Salem real estate market.
Home sales were up year over year as well. This is consistent with my personal experience, as well as many agents that I talk with regularly that the real estate market has picked up really early this year.
Interest rates took a small jump over the holidays and I think some buyers are worried about a large increase and are testing the waters early for real estate this year.
Whether home buyers are feeling a bit more optimistic with the large price drops that have happened; interest rates jumping up just a tad; or the unemployment rate dropping in Salem, it’s all good because the market didn’t drop in January.
I’ll take it. Now…anyone know how to catch a flying pig?
This data was crunched from information provided by the WVMLS and is based on single family, non acreage homes.