Each year I realize the same thing. The 1st quarter report is my least favorite. That’s because by April things are starting to feel different from the last 90 days. The first quarter closed data represents sales that were occurring at what most consider to be the least active time of the year. This year is no exception. Don’t get me wrong. There is good information here that needs to be reviewed. There are clues regarding inventory, etc but I think the story of 2013 will be written in the 2nd quarter report. At that point in time we should have data that will confirm upward pressure on prices and the pace of sales in relationship to last year.
If you are interested in this real estate market, this is required reading: Q1_2013 Cville Nest Report.