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Prices higher, incentives stable. Home prices trended higher in April, as our

home price index increased to 60 from 58 in March, above a neutral reading of 50,

indicating sequentially higher home prices (readings greater than 50). 66% of agents said

prices were unchanged, 27% said they were higher, and 7% said they were lower.

Less time needed to sell a home in April. Our time to sell index improved to 70

in April  (from 60 in March), remaining above a neutral reading of 50, suggesting a

decreased time to sell over the past 30 days (readings above 50 point to a reduced time

to sell). 47% of agents said the time to sell decreased over the past 30 days, 47% said

the time to sell was unchanged, and 6% said the time to sell increased. We view the

decreased time to sell as a positive indicator for future pricing trends.

¦ “Clients have been watching the market closely and think we may have finally hit

¦ “A lot of buyers are running into stiff competition or multiple offer situations.” "

The above survey is not glowing with rising prices but the first signs of the flat market that almost always follows a large decline in the housing market.  The flat market of the late 1980's after 3-4 years was followed by the slow steady trickle up market of the early to mid 1990's about 5 years.

If you have been on the sidelines hoping for lower prices to buy into your dream property, this may well be the first indication that there is no longer a need to wait. 

Sellers may expect that  the pricing of the last neighborhood sale may be what they will achieve instead of a lower and lower price in the future. 

We will be watching this carefully in the next few months to verify for our clients.  If you would like a heads up report to be sent to you on the market just email us and we will be sure to place you on our private client list.