Home Inventory
Housing inventory in April rose slightly to 8.4 months from 8.1 in March. On the year-to-year view, inventory is 3% higher than it was one year ago in 2009.

Home Sales Trend
As expected, the continued improvement in home sales this month was likely driven by the homebuyer tax credit, as well as greater affordability in the housing market. One surprise was the 21% jump in sales in the Northeast, which brought sales to their second highest level in 37 months.

Local Conditions
The Elizabethtown area has had a slow but steady increase in real estate activity. The amount of change experienced by most of the country ended in a plummeting loss of property value, while our area held the average property loss to less than 4%! The number of monthly home sales, with the exception of August, has increased every month since May of 2009.