Mother Nature served up more than just inclement weather during the 2014-2015 Winter season. As the snow piled up throughout New England we were given insight into a real estate market that would have otherwise been impossible to perceive.
Reports regarding the absorption of foreclosures and REO’s have been fairly consistent. The inventory is being purchased which in turn is driving supply down as well as months of inventory. Our economy is feeling a bit healthier and we expect interest rates to rise by the 4th quarter as a reflection.
But WAIT….the latest snow storms showed us that MANY homes are still VACANT & BANK OWNED. With driveways blocked and paths un-shoveled we were able to get a true glimpse of the housing market. No one is home….and doubtful that they are no snow birds who have gone south for the winter.
Finally, clarity from a Mother who tells it like it is.