April Showers bring May Flowers…right?  We were hoping the flowers would be in the form of closed transactions, but that does not seem to be the case so much.  Although May 2009 is up in most categories comparing April 2009 to May 2009, we are still significantly down over last year in all categories.

Active Condominiums are up 13% over last month and down -2% over last year for May.  PUDs or Freestanding condominiums are down -5% over last month and up 3% over last year.  Single Family Homes are up 4% over last month and up 10% over last year.  So, this increase in inventory over most categories gives buyers more power and more choices in their search for the perfect deal home.

Escrows are up for most categories.  That is the good news.  Condominiums escrows are up 38% over last month and a whopping 77% over last year.  PUDs are up 57% from last month and up 29% over last year, May.  Single Family Homes are up 33% over last month and down -56% over last year in May.  Ouch!  Why the downturn in Single Family, could it be all the deals in the lower price-points of the market?  Funny thing is that most Single Family Homes Sales this year are either over $2Mil or under $701K.  The rich still have money and know when to spend it and the rest are scoping out those bank owned homes…the steals.

Speaking of sales…Condo sales are up 50% over last month and down -200% over last year.  PUDs sales are down -100% over last month and down -100% over last year in May.  Single family home sales are up 20% over last month and down -100% over last year.  Still showing signs of a shaky market, but people…the writing is on the wall, with interest rates so low and home prices at an all time low, it is the time to buy.  When interest rates start to rise, it will be more devastating to buy then, than waiting for prices to drop further.  Also, you first time home buyers…the $8000 tax CREDIT the government is offering is a GREAT deal!  It’s FREE Money!  Take advantage while you can.

For a complete list of the hottest buys in the market, click here.  To view all the details for the Month of May, click here.

P.S.  You’ll notice there is not much about investment property in this report and that is due to the lack of investment potential in the marketplace currently.  Inventory for Investment property is at an all time low with only two properties on the market and neither is really a great deal unless you have alot of cash to bring to the table and sustainability for holding the investment for several years.

To view all the details for the Month of May, click here.