The single-family detached homes market segment is rapidly approaching a balance. There are currently 6.3 months of supply available in that segment compared to 8 & 11.7 months in the townhome & condo market respectively.

In the lower price ranges of the single-family detached segment things are actually now extreme seller’s markets, with only 2.3 months of supply available under $120,000.

Sales continue to boom below $200,000 as first-time buyers move to take advantage of the final days of the federal tax credit. Expect sales to continue at a brisk pace for the next two months as the “last call before bar close” buyers take advantage of the final days of this substantial market incentive.