“The U.S. housing market continues to show signs of stabilization with a drop in the number of Multiple Listing Service (MLS)-listed homes for the twelfth consecutive month,” according to RISMEDIA.

This comes as no surprise to those of us who practice real estate in the Greater Baltimore Metropolitan Area.  After a very sluggish winter where we saw inventory in Baltimore County reach a staggering 13 months, the spring/summer real estate season brought that number down to 5.5 months.  In a normal real estate market where it is neither a buyer’s market nor a seller’s market, we would see inventory at about 3-4 months.  So, this indicator is very good news.

Fueled primarily by the First Time Buyer Tax Credit, homes priced to attract first-time homebuyers are literally flying off the market if they are in desirable locations, good condition, and priced at fair market value.  We are actually seeing situations where properties are getting multiple offers.

What can we expect to see this fall?  If the number of homes listed continues to decline and buyers remain interested in getting a deal in this market or taking advantage of the First Time Buyer Tax Credit before it expires on December 1, 2009, we may see home prices begin to increase.  After all, it’s all about supply and demand.

Thinking about buying a home and want to know the process from house hunting to moving day?  Consider attending our FREE Home Buying Seminar.

Check out our Best Buys to find a real deal in this market.

Renting and thinking about owning a home?  See the benefits of homeownership and how owning a home may actually save you money.

Wishing you sunshine everyday and the home of your dreams,

Jeri