Buying is consistent with May 2007

Prices have held steady over April with a 36% increase in the number of sold units and a 65% increase in pending sales. This is good news for both buyers and sellers. For buyers -- prices are holding. For sellers -- there are more house hunters out there.

My crystal ball reads that prices will hold steady through the end of this year with pockets of appreciation and depreciation throughout the valley. Buying will pick up, however, absorption will rise only slightly due to increased inventory.

As an addendum -- 40 houses sold in May 2007. Not all data has been reported yet for May 2008 so it is very likely we will hit that number this year as well.

If you are in the market to buy real estate don't wait.

Data was obtained June 3, 2008. Data will change as more listings are closed out of the system. Data is obtained by the SW MT MLS