Existing home sales up > Median Home Prices Way Down in Salem, OR

Yes, there is definitely a lot more activity in our market place today.  Spring has sprung and offers are being made, new listings are hitting the market and if you read this article you will see that existing homes sales are up nationwide. But, the huge (but) home values are still falling.  We are seeing a lot more investors in the market today and the reason is prices and low interest rates… Great investor programs like Homepath Loans on Freddie Mac owned properties make it a great time to buy.  I would just love to see our market stabilize.  I would take no gain over 20.6% decrease in median home value in one year.  Yes 20.6% #3 in the nation.. read the article from Inman News and see the chart here.

Metro Q1 2010Q1 2011% Chg.

1. Gulfport-Biloxi, Miss.$128,800 to $99,400-  22.8%

2. Akron, Ohio$95,300 to $74,900-     21.4%

3. Salem, Ore. $193,300$-153,500-    20.6%

4. Dayton, Ohio  $97,900 to $78,000-     20.3%

5. Cleveland-Elyria-Mentor, Ohio $108,300 to $87,000 -19.7%

6. Miami-Fort Lauderdale-Miami Beach, Fla.$191,200 to $153,600 -19.7%

7. Ocala, Fla .$92,900 to $75,400- 18.8%

8. Allentown-Bethlehem-Easton, Pa.-N.J.$228,200 to $186,200- 18.4%

9. Tucson, Ariz.$166,800 to $136,800- 18.0%

10.Cumberland, Md.-W.Va.$98,300 to $80,700- 17.9%

My take on the article is that the foreclosures and bank owned homes are just killing the real estate market.  If your in the market now is an awesome time to get in! If your looking to sell the best thing to do is be as aggressive as you can and know that when you purchase you will be making up for your loss in the low price plus the incredible interest rates.