Market Report for December, 2010
December is normally a slower time in the market as is January and then we usually start our climb upward. (See attached graph for Plano) We will see when the climb starts this year. We had an OK December and have started out in January with some activity which we are pleased, but we want to see 2011 to be a better year.
We don’t think you will see prices go up this year but we don’t see them coming down either. We do see interest rates rising now even though there is not much demand. Rates bounced to 5% and not that 4.25% we have been seeing for months. Perhaps if rates do start to rise, we will see the buyers that are on the fence start making decisions.
We do feel we have a lot of buyers on the fence and they are scared about the unknown future as all of us are since we can’t see the future. From our economy here in Texas and our job market, we are really in good shape and don’t predict that anything will change our consistency here, so personally, we do not think it is a “scary” time to buy, but a very smart thing if you get the right advice. Of course we are here to guide you in your journey.
We don’t think you will see prices go up this year but we don’t see them coming down either. We do see interest rates rising now even though there is not much demand. Rates bounced to 5% and not that 4.25% we have been seeing for months. Perhaps if rates do start to rise, we will see the buyers that are on the fence start making decisions.
We do feel we have a lot of buyers on the fence and they are scared about the unknown future as all of us are since we can’t see the future. From our economy here in Texas and our job market, we are really in good shape and don’t predict that anything will change our consistency here, so personally, we do not think it is a “scary” time to buy, but a very smart thing if you get the right advice. Of course we are here to guide you in your journey.
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