Data recently released by Realtor. com suggest most of the housing market continues to be in a stabilization and  recovery mode. Compared to a year ago, the total for-sale inventory is down by -23.2 % on the national level, declining in 145 of the 146 markets tracked by  Realtor.com. The national median age of the inventory is down -4.8% compared to  January 2011. While U.S. median list prices declined for the second month in a  row, this decline appears to be largely seasonal; on a year-over-year basis, the  U.S. median list price was also up 3.69% in January. Although several major  markets—including Chicago, Atlanta, Detroit and Las Vegas—continue to be on a  downward trend, a growing number of metropolitan areas appear to be recovering,  with Florida leading the way. Recent employment gains and record-low interest  rates provide additional positive signs that improvements will continue into  2012. However, the large overhang of pending foreclosure actions in states such  as Florida, New Jersey and New York could easily reverse recent gains, putting  the nascent recovery at risk in many areas.
Read more: REALTOR.com Real Estate Trends for January 2012 (DATA) | REALTOR.com® Blogs

to get local housing data for the metrowest Boston area, Wellesley, Weston, Dover, Natick, Newton, lexington and Concord and other metrowest towns, click here to search.

 Here’s a brief description (in no particular order) of each index included in this feature:

• S&P/Case-Shiller looks at repeat sales in 20 metro areas, using a three-month moving average.
• The LPS repeat-sales index tracks sales each month in more than 13,500 zip codes.
• Federal Housing Finance Agency’s purchase-only index looks at repeat sales, based on data from Fannie Mae and Freddie Mac.
• The FNC index has data from 100 major metro areas, and excludes foreclosed properties.
• CoreLogic produces a monthly repeat-sales index.
• Radar Logic tracks values for 25 metro areas. Monthly data reflect the 28-day value of the Radar Logic Daily Prices.
• The Clear Capital index looks at repeat sales for several property types, including condos, across metros.
• The Zillow Home Value Index is the median Zestimate valuation for an area and includes single-family homes, condos and co-ops, regardless of whether they sold in a given period.

WSJ Dec. 2011 Column Five, Home-price indexes

Go to www.propertiesbybarbara.com to search for properties and read the Metrowest real estate blog

Belmont, Brookline/Newton, Cambridge, Charlestown, Concord, Framingham, Hingham, Lexington, Sharon, Waban (Newton), Wellesley, Weston, and Winchester. Look at these clearly skewed statistics toward higher-end locales.

In these towns, the data (courtesy of Saul Cohen from Hammond Reseisdential ) from 2006-2011 looks like this:

There has been modest recovery units and volume in these last two years from the low point set in 2009, but we are not back to the heights set in 2007.

“Volume” is recovering and so is “units.” But, of interest, there has been a major shift in the average selling price. Since the low which was hit in 2009 of $679,062 average selling price, in two years it has soared to $761,006 average selling price. More inventory sold in 2011 than did in 2009 and included more of the expensive units.

Most of the above towns are fundamentally sound, with good/great schools, a solid tax base, and within an easy commute of Boston, Cambridge, and 128 (“America’s Technology Highway”). It is true that real estate markets are so hyperlocal that they can result in a tale of two (or three, or four …) cities. But not all of the above towns represent a walled-off fortress. With mortgage rates at or below 4 percent, and three-bedroom homes in decent locations in the $600,000s or even $500,000s, young professionals are finding such towns within their grasp. The more eminent problem for them right now is a lack of inventory. It’s why we are seeing bidding wars in Newton, Lexington, and Concord.

Thanks to Bill Janovitz’ article in a recent Boston magazine article, “Making Sense Out of Real Estate Headlines” for these comments.

 For more real estate information, and to do a search for properties, click on www.propertiesbybarbara.com

from the Joint Center for Housing Studies at Harvard comes another hopeful sign: housing renovation and remodeling shows a definite upturn. As lenders gain confidence in the ability of borr

Indicator for Housing Renovation Remodelng Shows Uptick

ows to repay they are loosening their conditions of loans for renovations, remodeling. The number of housing sales is showing an upturn, so the desire for renovations is also gaining some strngth.  I think buying property in a good location and putting some dollars into it to update needed amenities is now a reasonable and often wise investment. With the prices for homes till at historic lows as well as athe cost of borrowing, it makes sense to put tahe improvements into properties that are strong to begin with.

What do you think? See my blog from yesterday about the positive trend in home sales . What is happening in your neighborhood? Do you agree that remodeling or renovation is now a good idea?

Great news as the Wall Street Journal reports sales of single family homes rose for the third straight month! The supply now is at the lowest level since 2006. December over November 2011 sales rose nationally 5%, reports the NAR (National Association of Realtors). Possible reasons:

• strong investor activity
• historically low interest rates
• falling prices

It’s still a buyer’s market, with more than 6 months of inventory remaining in many areas. Lots of cash investor activity nationwide is pushing sales volumes in the right direction.

What are you seeing in your local market? Go to www. propertiesbybarbara.com to search for properties of all types.