The Real Estate Market shows a better start in 2011 than we saw in 2010.
Homes sold for the month were up 15 from a year ago at 122, new listings were also up 31 units from a year ago at 477 new listings leaving the inventory level at 13.5 months. This inventory level is lower that what we saw a year ago and that is great news especially considering that we have 31 more new listings than in January 2010.
Interest Rates continue to be very low but are on the rise. Right now 30 year Conventional money is coming in around 4.9% with a 1 point discount and FHA is running about the same.
Great time to buy that next house and here's why!
1) Low Interest Rates
2) House Market is at the bottom climbing up
3) February and March are still in the Natural Slow Season of the year....better deals to be made
4) Real Estate is the strongest hedge against Inflation, and Inflation is expected to start climbing soon.
If you have any questions about buying a new home or selling your current home please call me for a free consultation.
Dirk - 806 654 3842 firstname.lastname@example.org