http://www.batonrougehomeappraisal.com/ - Baton Rouge Home Appraiser Sees Familiar Trends In 2010 Housing Market
Greater Baton Rouge Home Appraiser, Bill Cobb, is seeing a familiar set of 4 housing market trends within this market. By clicking on the chart below, one will see 4 trends:
1.) Less sales taking place in the most current 3 month period. With the current good national housing news due to the federal tax credit and the resulting increase in home sales nationally, one would think that there would be more home sales in the most current 3 month period because of the tax credit. And, with all of the fantastic news about the Greater Baton Rouge economy, one wonders why there would be fewer home sales.
2.) The “months supply of housing” on the market increasing, which would seem to be a negative at first. However, if one looks at the “Median Comparable Sales Days On Market”, one will see a 69 to 98 day marketing time period, 79 days in the most current period.
3.) Strong “Listing-To-Sales-Price Ratio” of 98% to 100%.
4.) A stable to slightly increasing median sales price since April 2009, 12 months back.
CLICK TO ENLARGE
The form above is part of the Fannie Mae 1004MC or Market Conditions Form required in residential appraisals performed for mortgage lending purposes where Fannie Mae will eventually be involved.
