October Market Update 2014

I hope this post finds you well.

1. The Lehigh Valley Association of Realtors Report.

For the Year, the amount of closed transactions are down. -4.2%. Median price remaining steady is a positive step for the direction of the market.


2. Distressed Sales and General Month's Supply of Inventory.

Please Click here to view the PDF

Supply for Non-Bank Properties is -14.3%

Supply for Bank Properties is -35.5%

This is catch up. There have been less pended properties year to date as compared to last year. However, 100 more properties sold last year as compared to October of last year. MSI presumes that if this rate stays the same for November, and no other homes enter the market, then there will be no homes to buy in 5.9 months for non-bank properties.

We'll see if we can pend as many units as we did last year!