Lets first look at total units sold. In 2008, Realcomp subscribers reported 58,592 residential units sold (includes homes and condominiums). This number is actually higher than the reported sales for each of the following years: 2004, 2005, 2006 and 2007. I know there are other factors that coincide with these numbers that are not as bright, such as the median sales price – but we can be encouraged by this data. Properties are selling!

Next, I want to point out the figures for average days on market. In 2008, properties were on the market for an average of 115 days before selling. This compares to 120 days from 2007-not a big improvement, but an improvement nonetheless.

The last fact I want to mention relates to the on-market inventory. At the end of 2008, there were 52,159 residential properties available for sale in Realcomp’s database. At the end of 2007, that number was 63,922. This is a decrease of 18.5% in the inventory of available homes. It also relates to the increase in the number of units sold.

None of this data changes the fact that we are in the midst of a very difficult economy. However, it does help to inform and give you access to details that you can use in your daily activity. We make all of these reports available to you through Realcomp’s corporate web site, www.realcomp.com. To access them, you can click the link for "News" (which appears on the left-hand side of the screen) and "Statistical Summaries (for Realcomp Members Only)". You will need to log in using your Realcomp Online^® agent ID and password to access this section of the website. There you will find detailed monthly reports for all of 2008.

Please continue to let us know how we can improve. We need your feedback! I can be reached by phone at 248-699-9120 or by email.