It is always a challenge to project what lies ahead, it’s best to look at market trends as a guide. That being the case then the housing market is heading in a better direction then in the recent past. Although every market is different, this is what I see here locally in our market place, a gradual and slow climb out of the bottom, with more stability and a modest increase in the number of residential sales. As our housing inventory decreases we are hoping to see a slight move upward in pricing, especially in the lower and more modest priced houses. This trend is drawing more and more first time home buyers into the market as interest rates continue to be at historic lows and rentals become more scarce and rental prices continue to rise. The second home market continues to have higher inventory levels with fewer buyers able to afford the luxury of a vacation home. This market continues to favor the buyers, and savvy buyers are also seeing these trends and are jumping into the Real Estate market while these conditions still exist.
