According to the National Association or Realtors® existing home sales rose in January 2012.
In Brevard County the active inventory has now fallen below 3,000
(residential listings) and just over 800 condo listings.
This reduced inventory
will eventually lead to higher prices – after all it is just supply and demand,
Since January 1, 2012 there have been 982 residential sales in
Brevard County. Slightly more than half of these sold for less
than $100,000 (494 units = 50.3%).
Lower prices will probably even entice new investors (even the mom and pop investors) to put some money in the real estate market.
After all, rents are increasing!