The HooK’s recap of 2007

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.

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