Gonella Realty's Market Update

For the 6^th month in a row, property values are continuing to increase.  From June 2009-June 2010, there has been an increase in property values of 14%.  Currently, the inventory of available homes remains quite tight with an inventory of 1.9 months.

Interest rates remain at historic lows, so is it a buyer’s market?  YES!

Is it a seller’s market?  YES!

With values down 60% from the peak in 2005, along with low interest rates, there are many buyers who are ready, willing, and able to buy TODAY.  In regard to sellers, homes are selling quickly and above the asking price, due to the large number of available buyers bidding up the price.

This entry was posted on July 19, 2010 at 3:20 pm and is filed under Merced County Real Estate. You can subscribe via RSS 2.0 feed to this post's comments.

Tags: buyers market, housing inventory, interest rates, sellers market