This is the PEAK selling season for real estate and even in this economy we are seeing buyers make the choice to take advantage of the lowest interest on record and 40-50% drop in values over the past few years… Makes perfect sense! If values drop another 10% (which they may in some price points) but interest climbs only 2% which it has been predicted to happen before the end of the year… buyers can lose tens to hundreds of thousands of dollars in purchase power for a very moderate decrease in value. (see the chart) Long term interest will offset any price reduction so buyers are willing to buy now!
Talk to you soon! Robyn