How many "Active" properties are there?
This chart shows the steady increase of residential resale properties available in Bucks County. In January 2005, there were approximately 1,300 properties "For Sale" in Bucks County; in Janaury 2008, there were approximately 2,700 properties "For Sale."
The numbers are very similar for March. In March 2005, there were approximately 1,300 properties "For Sale," and in March 2008, there were almost 3,000 properties "For Sale."
We are in a transition period moving toward a buyer's market. For buyers, this is great news: there is more inventory! For sellers, this means properties have to be priced more effectively to attract a serious buyer.
Interest rates remain the wild card that both buyers and sellers must watch. If interest rates start to rise, the buying power generated by lower prices and more inventory will recede.