The numbers don't lie sales are up for two months in a row compared to last year in my area. So my question is where do we go from here? Sales seem to be breaking out every where and sometimes I'm there when it happens. Will prices continue to increase? Will interest rates keep settling at a higher percentage? Can both things keep on happening at the same time? I know the answer to that one is no. But what about prices? I have buyers that are waiting for prices to go lower. In my area this does not seem likely. Primarily because we have experienced a 50%+ drop already since '05. Their thinking is to wait and buy around Christmas time when we all know selling real estate can be a challenge. It would be interesting if the powers to be could figure out a way to drop interest rates so that we could recover some of the equity in our homes and keep this momentum going.
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