The December 2011 and end of year numbers will be posted the beginning of next week. In 2011 we watched a stabilizing of the market here in Brevard. Inventory fell throughout the year, the drop in home prices flattened out and the number of sales rose. I think the numbers next week will reflect that.

Looking ahead 2012 should be a good year in real estate. With low prices and interest rates it is a good time to purchase a home. I am asked frequently if the market has "bottomed" out. I believe that it has for the most part. Will we see homes prices to continue to fall? Yes, in some areas of the county. Other areas seem to have hit bottom already.

For sellers, the days a home is on the market is reduced. With the low inventory, there are buyers waiting for new listings. This is generally the sign of a turn around in the market. Prices should increase minimally... 2% - 3% per year except in the areas where there is still an abundance of distressed homes.

Look for the sales stats the beginning of the week!