What a Difference a Year Makes
This time last year the real estate industry was celebrating the return of the buyer as our transactional volume spiked as the expiration of the tax credit loomed. We didn’t know how much of that was due to the tax credit, but we soon found out when the volume fall through the floor into the summer – and stayed that way – until now.
This spring is also proving to be busy, but what is more exciting is the fact we don’t have any programs artificially propping up the real estate market. Instead, it seems real buyers are buying for real life reasons – which is hopefully a sign of things to come.
Houses from $400,000 to $800,000, near the Metro, are moving fast, yet condos are still moving relatively slow.
We’re not out of the woods yet, but perhaps we’ve turned a corner. Stay tuned as we move through 2011 and see if this is a blip on the radar, or a new trend. Keep an eye on interest rates. They have been so low now for so long, they seem normal.
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