Is it to early to say Bah Humbug?? Yes, sales were down again in Montgomery County. The results for May, 2008 versus 2007 and 2006 are shown below. Our year-to-date sales are down almost 19% (gag). Yet even with the decline in sales the average sales price continues to increase. (All Right!) Needless to say it is a unique situation. We appear to be in the exact opposite situation of California where sales increased and prices declined. As you can see all real estate, like politics, is local. If you have any question about what MLS area you are in please send me an email. I will be more than happy to provide you with all of the information I can.
When will the situation change? I really do not have the foggiest idea. What do I hope? That those buyers sitting on the fence will change their minds and quickly. Interest rates are RISING. Just the other day a well respected news website said now is the best time to buy as interest rates should continue to rise and prices may have well bottomed out. Now would be a good time to call your friendly mortgage banker. If you don't have one please let me now and I will send you some names.
Take a look at the numbers below.....try not to gag....tell your neighbors to buy now...take two advil and email me in the morning. Have a great week.

Ron