Thursday, February 16, 2006

Economic Focus - Hot to cool

A newsletter from Chicago Title and Escrow Company states "The signs are clear".
  • Climbing inventories and longer market time are back again.
  • Rising interest rates, tightening credit underwriting and more traditional loan packaging are lowering the ranks of qualified homebuyers.
  • Buyers are noticing the increasing inventories, taking more time to purchase, being more selective in their choices and more conservative with their price offers.
  • Creative seller financing is back again as evidenced by seller incentives offered to potential buyers.

This does not mean the sky is falling on the housing industry. It more likely means that the housing market is returning to more normal conditions. Greater selections and lower pricing are good news for qualified buyers.

Lorraine Email:

(805) 901-8805


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