Affordable Housing In. Expensive Homes Out!

By
Real Estate Agent with AVALAR Pro Realty
Here lately I have been keeping up with trends in the Jackson area. The days on the market has really change in recent months. The market has slowed down tremendously from last year but the afforadable market is still moving on. Last month the number of homes over three hundred thousand stay on the market an average of 257 days. The homes under 175000 only averaged 59 days. Thats a figure that is believed to be accurate. So what does this mean to me. If I want to feed my family afforable housing seems to be the route to go. There was an article here in the Clarion Ledger about two weeks ago that stated this same thing. People here are not buying the more expensive homes.
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Rainer
57,388
Deb Hurt
Realty Pro Albuquerque - Albuquerque, NM
ABR, e-Pro,Green, TRC
There will always be a need for affordable housing. While ther will always people who can afford to buy anything they want, those people will be at the very top of the luxury market. Woring families will always need a place to live. As the cost of energy continues to rise, people will also be looking for smaller homes that cost less toheat and cool. Homes in the 100k to 200k range will always have a place in the market and people to buy them.
Jun 02, 2007 03:18 PM #1
Rainer
32,680
Michelle Way
AVALAR Pro Realty - Jackson, MS
ABR, GRI, WCR

Very true Ms. Deb

Jun 02, 2007 03:43 PM #2
Rainer
34,196
David Doerr
David Doerr Mortgage Team @ Axia Home Loans - Spanish Fork, UT
14 Year Mortgage Professional
In my market, anything over 300K is sitting for a while, if you are lucky enough to have a listing under 200K it will be gone within days, sometimes hours!
Jun 02, 2007 04:33 PM #3
Rainer
57,388
Deb Hurt
Realty Pro Albuquerque - Albuquerque, NM
ABR, e-Pro,Green, TRC
Nothing here is moving in hours these days, but homes priced under 250k will not be on the market very long. I think more people are beginning to be concerned about what they can actually afford and the increase in heating and cooling for a big home on top of a payment that is a stretch is a lot for many people has motivated them to buy less costly homes or in less expensive locations.
Jun 04, 2007 12:36 PM #4
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Rainer
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Michelle Way

ABR, GRI, WCR
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