We have started the year off with a bang. Sales continued on their upward trend for most areas, which is somewhat surprising because typically January is one of the slower months for sales. Inventories were lower than expected in December and some of the lowest in the last year and a half. This can be attributed to sellers waiting to put their homes on the market until after the holidays, as well as an increased number of sales.
Looking ahead it seems that sales will continue in a similar fashion as they did in 2009. Although we have seen an increase in sales volume we expect sales to come back down to where they averaged in 2009. Financing is still the key word for 2010. With tougher guidelines and standards it is very important to get the best professional advice. Some are saying that later this year we will see interest rates begin to rise, especially since the government will stop buying mortgage backed securities.
Although no one can see the future we still believe that buying a home is not only a place to live, but provides one with long term added security. Every market has cycles and it is only a matter of time before the market begins its upward momentum again.
