Mt. Hood Market Action for March 2011
The RMLS has just released the "market action" for our mountain area for Government Camp, Welches, Brightwood and Rhododendron listings and sales. This chart compares sales, listings and compares last year from this year at the same benchmark time.
Two numbers jump out at me in the stats. One is the increased marketing time for a sale and secondly the pending sale numbers down nearly 50%. We have historically low interest rates, excellent affordability levels yet buyers are not coming in to swoop up the deals. Some of the biggest names in real estate are saying this is the best time to buy property that we will see in our lifetimes. I'm speaking of Donald Trump, Barbara Corcoran, and John Paulson (who predicted the housing bubble).
Buyers should be jumping in and taking advantage of this time before interest rates creap up. Predictions are that they will hit 5.4-5.7% by the fourth quarter!
