This Month in Real Estate January 2014 is here!
Home sales activity dropped yet again at the end of the year, this time to a pace of 4.9 million, down from the 5.1 million we saw in This Month in Real Estate December 2013.
The median home price also dropped again, $196,000, down from $199,000 last month, and a further drop from the October high of $212,000.
The average interest rate rose to 4.48% from the lower 4.22% last month.
The Top Story talks about home buyers, the internet, and the Spring real estate market.
Jay Papasan says that research shows that 90% of homebuyers start their search online, and then spend about two months looking for homes before deciding on the right one for them. What that means is that houses that are on the market right now are in the best position to close in early Spring.
Homes on the market now will beat their competition to the market, and get those buyers before Spring even arrives.
For an idea of when it may be best to list your Towson home for sale, please contact me. I would love to help!