Trends in Housing for 2009

The Trends in Housing Report came out and here’s a summary of the real estate market in 2009:
* Prices are showing signs of moderate recovery.
* Days on the market are continuing to decline.
* Housing inventory continues to decline. (there is much speculation that banks will begin to release large amounts of foreclosed homes soon, so this may change for 2010)
*The gap between the list price and sold price is getting closer, in Q4 2009 sellers received 93.7% of their list price, this is the highest share in more than two years.

Here’s a positive quote from the report:
Said Jonathan Hill, Vice President of Business Development for MRIS, “We are pleased to offer to the public this latest issue of Trends in Housing, a joint publication of MRIS and Delta Associates. It is particularly noteworthy that at year-end 2009, the housing market in the Washington area was beginning to gain some meaningful traction, with prices higher than one year ago, and days on market declining. We look forward to regional job growth in 2010, which should further bolster the demand for housing.”