Housing Rebounds!!

Economic News!!!! Construction of new homes and apartments increased by 6.7 % in November to a seasonally adjusted annual rate of 1.588 million units. Federal Reserve officials last week left interest rates unchanged at their final meeting of the year.

Clark County/SW Washington November number per RMLS show the number of new listings is down 14.9% when comparing November 2006 to November 2005. Closed sales were down 19% in the same period. However, the average sales price climbed 13.6% ($291,400 v. $256,600). Median sales price increased 15.6% ($225,000 v. $220,500)...In November we had inventory of 7.0 Months, with an Average Market Time of 73 days, compared to 47 in November 2005.

In these months, energy prices were falling sharply, a situation that reversed in November....