November Real Estate Outlook

What are home sales doing now? The impact of the Tax credit is supporting home sales for another quarter. Home sales jumped up by 11% over last quarter.  Some of this is also driven by sustained low mortgage rates. What does this mean for 2010? Have we seen the bottom? I don’t think we have. In my local market consumer expectations of lower prices next year are driving demand for homes down at this time. If you have a home that you have been trying to sell and it’s price right (holding everything else constant) but hasn’t sold after 6 months this may be why. Until consumer expectations about lower prices changes (which probably won’t happen until another 12-18 months) I’d rent it out.  If you must sell then visit me at www.russell-realtor.com. We specialize in handling distress properties.

 

 

By: Yvonne Russell,  REALTOR®

 

The opinions expressed here are my personal expert opinions as a realtor and are to be used  for general information purposes only.

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