June Housing Report Reflects Available Mortgage Money and Properties Priced to Move
July 6th, 2008 Categories: Monthly Statistics
After months of focusing on negative statistics, we are pleased to see media reports indicating home sales across the country increased 2.0 percent from April to May. In some areas of the Mid-Atlantic there were double digit increases over April’s numbers. This is a positive reflection of two major factors:
- Mortage money - at a 40 year low - is readily available
- Housing selection is excellent.
It also demonstrates that buyers are motivated to action when sellers move prices to match a buyers perception of value.
Real estate is a commodity not a product.
Buyers research what is happening in the market before deciding on the value of a commodity.
When there is a shortage of a commodity the prices go up. When there is an oversupply, prices go down.
When a real estate property is priced correctly, buyers see value and take action - they BUY!
Following are market statistics by county. Let the statistics help you assess the current market and how properties are positioned for action.
You may also want to check out my articles on what has been happening on the mortgage scene.
For more information on how you can take advantage of today’s market to buy or sell your home, call me at 703.927.4554 and we’ll work through it together.
Michael
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