Monday Morning Real Estate Update 4/21/08
Good Monday Morning!
Snow on the ground in the Eugene and Springfield area in mid-April? Wow!!!!
The month of March Real Estate statistics are out and it is clear that the market here continues it's downward trend. Average days on the market are currently at 90 days, this compares to 78 days for March of 2007. The biggest change is the number of closed home sales. Closed home sales were down by 29.1% and pending sales by 28.7% from March of last year. There was 10 months of active inventory on the market for March of this year. This compares to 3.8 months of inventory in March of 2006 and 5.6 months of inventory in March of last year.
Mortgage interest rates remain extremely favorable with 30 year fixed loans at around the 5 3/4% mark. What a great time to be a home buyer!
Have An Awesome Week!
AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
