Homebuilding Numbers are Looking Up

Posted By on July 27, 2009

Since February, home sales have been improving month over month.  Critics would say, however, those monthly numbers are not improving year over year and therefore we haven’t seen the proverbial bottom.  Well, I for one am happy to report that the Cincinnati area’s June numbers, 2009 vs. 2008, increased. 

Not only that, but the average number of days on market a seller can expect is down from June ’08, indicating that homes are selling faster.

Not only that but there are more pending home sales (those homes that have an offer but have not yet transferred ownership) than last June, and that pending home sales number has been better than 2008 numbers since March. If you take this into account with the number of units sold, there has been more market activity March-June of 2009 than there was in the same period of 2008. 

Not only that but Potterhill Homes has been seeing more customers than we have in several years, and those customers are buying homes. 

More good news; building permit activity across the nation is up from last June, indicating that other builders are seeing more activity too.

With all of this positive news in homebuilding, the DOW Jones responded well yesterday, closing above the 9,000 mark for the first time since January. Investors are feeling better, at least for today.

We are certainly not out of this mess that is the U.S. economy (jobless numbers continue to rise) but there are signs of recovery.

Here are some interesting numbers, if you’re a numbers person like me:

All numbers are provided by the Cincinnati Area MLS.  The average Sales price of all residential listings (includes condominiums, farms, single family homes) sold in the Greater Cincinnati Market in June was $158,356.  The most expensive listing sold in June was $4,500,000.  The least expensive listing sold in June was $2,500. Quite a swing!

I can’t say it enough- if you are looking for a real deal in real estate, now is the time to buy.  This opportunity won’t last forever, and you’ll look really smart in a few years if you buy at today’s affordable prices.

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About the author

As the people behind Potterhill Homes, we have some pretty strong feelings about energy efficiency and green building. And we don't always agree! But we are commited to building a best homes we can and bringing you along on our journey to figure out exactly what that means! Thanks for checking out our site. My Google Profile+

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About Potterhill Homes

Cincinnati-based Potterhill Homes is a premier builder of affordable, environmentally friendly homes in Greater Cincinnati. Our homes are built with traditional Cincinnati architectural styles and are perfect for both urban infill and suburban development. To learn more about Potterhill Homes,visit www.potterhillhomes.com.


About the authors

As the people behind Potterhill Homes, we have some pretty strong feelings about energy efficiency and green building. And we don't always agree! But we are commited to building a best homes we can and bringing you along on our journey to figure out exactly what that means! Thanks for checking out our site. My Google Profile+