Market Report for December, 2007

A little bit of good news among all of this continued bombardment on our financial institutions! Almost all of our cities in the north Collin County area increased just a little in the number of sales for November, 2007! That is good since we have not seen that all year!

The inventory is lower as well but that usually happens at this time of year with the Holidays and not as many buyers wanting to move at this season.

Interest rates dipped below the 6 percent rate which is very exciting. They bounced up a little more when the stock market didn’t perform but they are hovering around 6% without a problem. Historically, this is a GREAT interest rate and a great time to move into the marketplace.

As I have said before, this is a great time for getting a good buy on the other end even if you cannot make or save as much on the existing home that you have right now. We are still seeing sellers having to adjust on their prices when receiving offers since there are not as many buyers out there wanting to buy our homes! Again, if your house has not sold, it is simple because of location, staging/condition or PRICE, or maybe a combination of those 3 factors!

Prediction for 2008? Personally, I think we will be fine. I think we will make a steady climb back up but it will not be very noticeable but steady and we will feel and see it mostly at the end of 2008. I still think our North Texas has a lot going for it and we will see it blossom and bloom again! And I think 2008 is the year for that to happen. After the election though, anything can happen!

For your area statistics, please click HERE.