Morgan Hill Housing Recovery

Have you noticed Morgan Hill’s housing activity?  Wow!  Recovery is well underway in our quaint town.  In May there were 73.6% more Closings than in May ’08.  This is the 5th straight month this year where our Closings have increased over last year’s figures.  To date, Closings have increased nearly 60% (59.4%)!

On the other hand New Listings of Morgan Hill homes for sale were down for the 5th straight month.  The number of May’s New Listings were down 55.4% vs. 5/08 and year-to-date the drop totals 23.5% over the same period last year!

In nearby Gilroy the same housing trends are happening!  Gilroy’s number of Closed Sales is up 128% from 2008!  128%!   Wow!   Our New Listings were lower by 27.9%.

The affects of ‘Supply and Demand‘ are being felt here in Morgan Hill and Gilroy.  While the interest rates are still wonderfully low I wouldn’t wait to buy.

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