FHFA STATS JUST OUT: BLACK HILLS REAL ESTATE STILL ONE OF 3 BEST MARKETS IN US

This morning the Federal Housing Finance Administration released their 2nd-quarter 2009 housing price-change stats. South Dakota housing market was up and still one of the very strongest in the U.S., while NV, AZ, FL and CA continued to tank. You can see in the left chart based on our own local HillsWatch.com stats that we've been selling more homes in the past month than any time previously this year.

Yes, our Black Hills volume is down over 25% from the 2007 peak. But we have already begun improving volume this year. And according to these new FHFA stats, our small increase in home prices is in the top three nationwide.

I still contend that if it's the buyers who come off the sidelines first, prices will jump and stay there; but if it's the self-sidelined sellers who come out first then prices could briefly nose dive (until the market absorbs the frenzy).

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