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Capital Region Real Estate Update

Here is how the December 2014 Capital Region real estate market finished. Overall pending sales were up, prices were down, but inventory was also down. Month to month numbers can be fickle and don’t always tell the the whole story. But a 7.9 months supply of inventory is one of the lowest numbers we’ve seen in years and clearly signals a shift to a more balanced housing market. Anecdotally, we’ve seen several homes move quickly after receiving multiple offers. We may finally have cleared away most of the stale inventory from the last 3 years, coupled with more realistic sellers, and motivated buyers – due to low interest rates – 2015 has all the ingredients a healthy housing market.