Looking over her predictions of 2007, Madam Hook notes:
“I see young people in houses,” mused the Madam, explaining that the once red-hot housing market would stay cool, with median home prices remaining stable for the first time in years, and making it a good time for first-time homeownership.
Did she say the market will “stay cool”? It actually seems downright frosty these days, what with a nearly nine-month supply of houses for sale and average days on the market lingering at over 90 days. Still, who are we to argue with a psychic? Median prices have remained stable, according to real estate analyst Jim Duncan, who confirms the Madam was correct about two other things as well: desperate sellers are gnashing their teeth, and with interest rates at a two-year low, it does seem to be a fantabulous time to buy.
I’ve morphed from “Realtor” to “real estate analyst.” I’ll take it.
Technorati Tags: albemarle, charlalbemarle
If you're new here, you may want to subscribe to my RSS feed or sign up for Email Alerts. This blog tracks the real estate market in the Charlottesville, Virginia region, local politics, technology and other matters impacting the local real estate market. Thanks for visiting!
Pavel -...
