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- Based on information from the September Realtors® Confidence Index, the number of homes on the market for more than 6 months until sold rose in September but was still below the experience in May, June, and July.
- A total of 35 percent of homes were on the market less than 2 months before being sold. All real estate is local, so broad generalizations have many exceptions. However, amid all of the doom and gloom propounded by reporters, the overall housing market continues at sales level approximately equal to that experienced in the past three years.
- In terms of sales volume, the market appears to have been moving sideways, waiting for some overall recovery in the jobs market. In terms of price, the results have been mixed around the country but generally weak except in areas experiencing job growth and lower levels of distressed real estate.
- Most commentators continue to predict home price stabilization in the foreseeable future, depending on overall economic conditions, employment, and consumer confidence.
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