Well the media is being the media again.  I wonder if they could sell newspapers if they reported on anything but doom and gloom?  In today’s real estate market report the headline reads “Home resales at lowest rate since ‘96.”  What they failed to emphasize is that the report also had some good news.

Total housing inventory at the end of January fell 2.7 percent to 3.60 million existing homes available for sale, which represents a 9.6-month supply at the current sales pace. Because sales were down, the January supply is up from a 9.4-month supply in December.

“The drop in total inventory is an encouraging sign because the number of homes on the market has declined steadily since peaking in July 2008, and inventory is at the lowest level in two years,” Yun, economist for National Association of Realtors, said.

That basically means there are fewer and fewer homes on the market which is reducing inventory and stablizing pricing.  Fortunately, Southeastern North Carolina is in a much better housing picture then the rest of the country.  Real estate markets are highly localized so looking at national numbers can be very misleading.  Contact your real estate professional today for help with any of your relocation needs.