Here's the latest. While sales are S--L--O--W--L--Y showing increases in both sales and prices, on a month to month basis, they are still way below their peaks of a couple of years ago, and even below one year ago prices. However, an upward direction is something to be encouraged about. Some major builders have just announced a slowdown in their planned numbers of starts, a factor that will key closely to any movement, up or down, in sales of existing homes.
Mortgages are still much more a deliberate process on the part of lenders than they were a few years ago, not a good thing for buyers, but, a positive, the past week the 30 year fixed rate average dropped below five percent again, a number certain to get buyers' attention.
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