Thursday, September 17, 2009
Derry Housing Market
The Derry Housing market is starting to come back! The above chart shows the inventory levels that we presently have today. A 5.8 Months supply is truly amazing from where it was over a year ago. The above chart shows inventory levels from 8/08 to 8/09.
Now, this in no way means that times are not tough but lets look at the facts. The housing market crash of 2006 led the demise of the economy. From there banks started having trouble, credit lines tightened, retail and hospitality services suffered and end results with unemployment being the last of tough times. Now we still need to create jobs in this country, what I would like to point out here is that the end is near for this recession. Housing had 6 months in a row of growth! Retail sales were unexpectedly high in Aug, and the Feds are saying its over in the papers.
This is good news for us! We need to stay positive and just like the new England weather, its bound to change for the better.