Displaying blog entries 351-353 of 353
Here's a brief update on the market statistics from multiple listings service on the mountain activity. Fifteen residential sales and one Condo unit sold for a total of 16 sales. Pending sales are down 44% from 2006!
The factors in play which may impact our summer selling season are listed below. The greatest impact locally will be the interest rates and the tightening lending standards. Well be keeping a close eye on the Portland market as this is reflected in our local market especially the second home market sales. Inventories are expanding rapidly for a summer of sales.
Investors have left the "price sensitive" housing market and moved back in to the stock market with the DOW reaching record highs.
Housing deflation? So far it has hit the big "bubble markets" of metro areas like California and Florida. It could filter down to other areas too.
Mid February has shown an incredible slowing of listings and sales. Only two properties have closed this month and inquiries are down. On the other end of the spectrum, listings are not exactly hitting the market. It just seems to be a total slowing of the entire process. Interest rates aren't bad at all but with the home equity faucet turned off, spending is down and sales have drastically slowed down.
Displaying blog entries 351-353 of 353
