November 2014 | Real Estate Market Update

Home sales reached its highest pace in September while remaining a bit below last year's level according to the NAR (National Association of Realtors). Prices went up on a year over year basis for 31 consective months as of September, but the magnitude of the gains has decreased over the last 6 months. 

Nationally inventory declined slightly as we began to move out of the peak season for home sales.

Locally, inventory along with days a home is on the market is increasing. Therefore look for price reductions. Combined with seasonal declines in home prices in coming months, declines in interest rates it will present opportunity for buyers to see a bump in what they can afford.

Watch the brief clip below for a complete report.