Accredited Buyer Representative
~ specializing in finding Buyers homes ~
Julie Chandler
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Important Info:
NAR chief economist Lawrence Yun said, “Consumers are rational and they rushed to meet the tax credit eligibility deadline in April. The sharp decline in contract signings in May is a natural result with similar low levels of sales activity anticipated in June,” he said. “Surprisingly, though, some local markets such as Portland, Maine and Jacksonville, Fla., actually experienced an increase in contract signings from a year ago without the tax credit. Existing-home sales that close in June will remain elevated, but we’ll then see a notable decline for July and August.”
“In most areas of the country, there will be no sharp snap back in home prices in the upcoming years, although some local markets have experienced double-digit gains this year,” Yun said. NAR forecasts the national median home price to rise only 4% cumulatively over the next two years.
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Julie Chandler PO-GO REALTY 39 Main Street Gorham, ME 04038 (207) 839-3300