Montgomery AL Real Estate Sales Statistics - October 2009

Friday, November 20, 2009

by The Hat Team

Congress has voted to extend the current higher Fannie Mae, Freddie Mac and FHA loan limits through 2010. The present loan limits would expire at the end of 2009 and revert to previous lower limits. The higher limits, along with the home buyer tax credit extension, are necessary to keep the markets moving at this critical time," said National Association of Realtors President Charles McMillan.

"Home sales have shown significant movement upwards in the past six months and reduced inventory in some segments of the housing market, but not in all. Home purchases in the middle-income and higher brackets have not moved much, and those markets must improve before we can experience a fully sustained housing recovery. These higher loan limits will help motivate qualified home buyers to purchase in those markets," McMillan said.

Let's look at October real estate sales to see how the housing recovery is progressing in Montgomery AL.

Montgomery AL real estate sales statistics for October show pending sales have increased by 2% in 2009 compared to October 2008. The average sales price decreased by only 1% to $130,053 while sold listings were up by 6% from 2008. Market times were 22 days less than 2008..