NVAR October Statistics

The Northern VA Association of Realtors has published its market statistics for October, 2009. There are a couple of things that I find significant about these numbers:

1. For the first time since the bubble burst, the number of Active Listings is less this October than in October 2005. Until now, Active Listings have exceeded their 2005 equivalent each month.

2. Homes Sold as a percentage of Active Listings has finally hit 20% or more in the last several months. For all of 2006, 2007, and 2008, this percentage has been well below 20%.

The question is, how much of this is market recovery, and how much of this is the direct impact of the First-time Home Buyers Tax Credit? Be sure to read yesterday’s blog post for the future events that will most likely impact the current recovery trend.