Compared to the first two quarters of 2008, this year's numbers in Hillsborough look dreadful.  The number of sales is down nearly 27%, and the median price is down 17%.  A pretty grisly picture in light of recently-released national numbers. 

However, comparing second quarter 2009 to second quarter 2008, the picture brightens considerably.  The difference in the number of closings 2008 vs. 2009 is less than 2%, and median price difference is less than 7.5%.  This points up the fact that the first quarter of 2009 in Hillsborough was terrible, really terrible, with less than half the number of sales for the same period in 2008.  Keep in mind that the market in 2008 was starting to decline, and the market in 2009 seems to be improving.  The two curves probably crossed in June.

In general, economic news has not been encouraging.  But interest rates have been very favorable for the past month or so (until this week, when they inched up at bit).  Assuming the national economy, and more importantly, the local economy, begins to improve - it seems to have hit bottom - we will see increased real estate activity as people feel more secure in their jobs. 

There are good homes at good prices to be found in Hillsborough.  Keep in mind that the first-time homebuyers $8000 tax credit expires December 1.  It's time for buyers to dislodge themselves from their fence.