RMLS Average Sale Price (3 Month Rolling Avg)
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Has one of these markets found the bottom?
I would hate to jinx anything, but it almost looks like Phoenix may be stabilizing and maybe, just maybe, may have found the bottom. Portland and San Diego may have a ways to go.
Clark County House Afordability Ratio
Based on January's average home sale price, it would appear that homes in Clark County are more affordable than they have been in at least 32 years. This assumes no decrease in income over the 2011 estimates, and no significant increase in interest rates throughout the year. We owe much of this to the PIIGS, and to the federal takeover of the mortgage industry. Still - prices continue to fall.
Home Price/Income Ratio
If you assume no big change in median household income since 2010. And you project January 2012 across the entire year. Then the price to income level would be below the post 1980 average for the first time since 2001.
RMLS Clark County - January 2012
Snapshot of the RMLS report for January. Any silver lining? Pendings up a bit?