Tuesday, August 14, 2012
Real Estate News
I would like to say the Real Estate Market is improving but to do so would not be accurate. In July there were 117 total sales in our MLS. Sales ranged from $27,000-$532,000. All this adds up to about a one year absorption rate, still a buyers market.
However, I am feeling some resistance to further decreases in prices. Seems like things were in somewhat of a free fall for several years and I think in many price ranges today prices are close to the bottom. Only time will tell.
With prices reasonable for the most part, and interest rates at historic lows, with a modest down payment you can buy a home cheaper than you can rent a home.