Take a moment to consider these facts: *There are currently 3.75 million homes for sale. Inventories in recent months have been at record levels, offering consumers the greatest choice in decades. *However, inventory levels are falling, and the selection of homes will be come limited once again. *Interest rates haven’t been this low for nearly 40 years. *The average home value increased by 88 percent over the last ten years. In the decade to come, the number of households is expected to increase by 15 percent, which keeps housing in high demand. Expect change in 2007 as sales pipck up, prices gain traction, and conditions improve for sellers.
Source: Real Estate Update, August 2007
