extremely low home prices
Home Sales Increase due to Low Mortgage Interest Rates & Low Home Prices
January 31, 2009 by Mortgage Align · Leave a Comment
The National Association of Realtors announced today that existing home sales in December increased 6.5 percent as compared to November 2008. However, while home sales were up, the inventory of unsold homes fell 11.7 percent to 3.68 million units, representing a 9.3 month supply.
Quicken Loans Chief Economist Bob Walters says that low mortgage rates and extremely low home prices are attracting buyers to the market.
“We have seen a sustained run of extremely low mortgage interest rates which have certainly caught the eye of home buyers . When you pair this with the fact that homes are selling at astonishingly low prices, you have created the perfect scenario for strong home sales,” said Walters. “I’d still expect to see some additional deterioration in home prices which will help burn off excess inventory, especially if rates remain this attractive.”
extremely low home prices
Home Sales Increase due to Low Mortgage Interest Rates; Low Home Prices
January 26, 2009 by Mortgage Align · Leave a Comment
The National Association of Realtors announced today that existing home sales in December increased 6.5 percent as compared to November 2008. However, while home sales were up, the inventory of unsold homes fell 11.7 percent to 3.68 million units, representing a 9.3 month supply.
Quicken Loans Chief Economist Bob Walters says that low mortgage rates and extremely low home prices are attracting buyers to the market.
“We have seen a sustained run of extremely low mortgage interest rates which have certainly caught the eye of home buyers . When you pair this with the fact that homes are selling at astonishingly low prices, you have created the perfect scenario for strong home sales,” said Walters. “I’d still expect to see some additional deterioration in home prices which will help burn off excess inventory, especially if rates remain this attractive.”
