The Summer is heating up here in Panama City and Panama City Beach. Now that the 2nd quarter of 2011 is officially in the books, let’s see how the local market is performing. Today we will look at the Detached Single Family housing sector.
Sales volume was up for the Quarter period and the standing inventory was reduced by some 17%; certainly a good thing. Prices continue to correct from prior levels with the overall median price change being 15% less than the same period 12 months ago. The slow but continual absorption of the existing inventory will help this market from a recovery standpoint, although prices are likely to suffer in the short term.
How are inventory levels in your housing market?
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