As we’ve been telling you on our weekly radio show Real Estate Today on WBTN AM 1370 here in the Bennington VT real estate market, we have been seeing a steady decline of the inventory, which is a good sign overall that we might be heading in the right direction as far as a corrected real estate market.

Troy

The number of homes for sale declined 2.4 percent in November in the metropolitan areas covered by ZipRealty Inc. In the last 25 years, the decline in November has averaged 1.8 percent.

The data doesn’t include New York, but Miller Samuel Inc., an appraisal firm, reports that inventory was down 7.1 percent from the end of October and down 18 percent compared to November 2008.

October was the first month since January to show a rise in bank-owned homes. The number of bank-owned properties declined over the summer because of efforts to prevent foreclosures. As time runs out for many families, the number of foreclosures is increasing.

As of the end of October, banks and mortgage investors had 639,000 foreclosed homes for sale across the U.S., Barclays Capital estimates. “We expect a rebound in distressed inventory in the coming months,” says Glenn Boyd, a senior analyst at Barclays.

Source: The Wall Street Journal, James R. Hagerty (12/09/2009)

Episode 1 of Real Estate Today is titled “Introductions.”

Kathy and Troy introduce themselves and the basic outline of the show. 

You can listen to the show on iTunes or download an episode directly from our website.

Real Estate Today is a new show airing Fridays at 11 am on WBTN AM 1370 in Bennington VT area.

Kathy Sollien and Troy Richardson of RE/MAX Maple leaf realty will be discussing a variety of real estate topics.  Whether you are a first time home buyer or have been through the process multiple times, your questions about buying and selling real estate in the Bennington area can be answered here.

You can email your questions to remax@wbntam.org

Join us every Friday at 11am for Real Estate Today.