The good news continues in the Coeur d’Alene area real estate market! It took awhile but the official results are in and continue to be encouraging.  The number of sales reported through May 2012 is up 10.5% from last year at this time and the total volume (the dollar amount of what has sold) is up 14%. Even more encouraging is that the average prices for this same time period is up around 3.1%. While this does not mean the value of one’s home increased by this amount it more accurately depicts that some properties in the higher price ranges now have an increased market. Finally – the BIG ONE…. Inventories (residential homes for sale) are down 12.7% from this time last year.  For those that know me I continually watch the supply of homes as I firmly believe that the number of homes available for sale must continue to decline before we will notice any real stabilization of home values. Another key point is that the number of Short Sales and Bank Owned (foreclosed) homes that have sold dropped 6% meaning more owners have been able to sell their homes outright without lender involvement. On a personal note we can attest that June and July has the making to continue this positive trend.  Activity is strong and the number of pending sales continues to out pace those from years past.  Stay tuned. See Entire Report Here