As predicted, interest rates remain at historical lows. Warmer than usual weather and the lack of snow also contributed to a strong February.
Pending sales were up 42% over February of 2011
Inventory is down by 7.1%
Median price rose 3.6%
List price to sale price is about 91%
Now the big question remains:
Is it a buyers market or a sellers market?
We believe that it is neither… We have a balanced market where sellers and buyers are accomplishing the ultimate goal, sellers are getting their house sold and buyers are able to make a great investment. As we said before, with interest rates being around 4% for 30 years, affordability is probably at its highest.
At the end of the day it is about how much it will cost a buyer to own the house.
Remember when rates were about 10%….
As allways if you have any questions regarding real estate in the Capital Region, (518) 435-9944 or contact us. We are here to help!
28. March 2012
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