The Seller's Market Survives in Tidewater
The Seller's Market Survives in TidewaterAuthor: inayatThe National Real Estate PerspectiveEach month I write an article explaining various aspects of national real estate market trends and the market trends within my local region, the Tidewater/Hampton Roads area of Virginia. Over the last six months I have seen many changes, read many opinions and confronted a variety of consumer fears. One fact that is clear: the experts believe the real estate market is still strong and the slowdown many areas of the country are experiencing is a natural adjustment and should be expected after the boom of 2005. David Pressly, president of the National Association of Home Builders (NAHB), in a March 31 press release on the NAHB web site stated “understandably, some consumers are concerned about the housing market right now.” “But the recent decline is certainly no cause for alarm," Pressly continues, "The past year was a remarkable one for home builders, but the extremely high sales numbers would be hard pressed to continue at that pace. Even as we transition to more realistic sales numbers in 2006, buying a home will remain an excellent investment.” This is good news for sellers. Long Term Mortgage Rates Hit A Four Year HighIn the month of April there have been noticeable increases in mortgage rates across the nation. According to the April 14, 2006 Realty Times report the Primary Mortgage Market Survey released by Freddie Mac indicates long term mortgage rates are higher than they have been in four years.
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06.06.2010
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