The local housing market continues to pick up steam with open houses being quite busy and multiple offers being made on the best properties. An obstacle once again (read 2000-2005) facing buyers’ agents is getting their offer accepted in the face of competition for the home.
Next time I blog, we will have ended the month of June so, at that time, I’ll be able to post “months of inventory” through the complete month. This data is critical because it tell us if we are in a buyer’s market, a neutral market, or a seller’s market.
Much of the rise in interest rates in late May and early June was due to concerns about the government’s enormous accumulation of stimulous debt. Didn’t seem to be a problem with both domestic and foreign investors who showed a strong demand for Treasury purchases last week … which reversed some of the recent rate increases.
Click Here to see all rates as we begin the week of June 29.
You are reading my blog on real estate market trends. Go to my Main Page to search for properties.