Market Update- Interest Rates

 

Everyone is back from the holidays and we are starting to get back to more normal trading volumes, etc…
 
Employment number was somewhat of a dis-appointment today and initially market reacted negatively, however ended the day almost unchanged.
 
Today it looks like we may have seen the end of rates with no points below 5%, however that is always subject to change and a little early to tell starting off the year…many still feel that rates are more likely to rise based upon current economic data and potential rebound in the economy…however housing is still lagging!
 
Rates for 30 year fixed rates are averaging in the low 5’s…which are still great rates and we just need to keep reminding everyone!
 
Have a great weekend…

 

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Published in: on January 10, 2010 at 04:11  Leave a Comment  
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Cincinnati MLS Daily Home Sales Report

New Listings 177  
Back on Market 20  
Price Increases 5  
Price Reductions 102  
Pendings 67  
Solds 35  
Expireds 48  
Inactives 28  

New Listings: 177

Avg LP: $214,825 This has a bit higher then normal avg as a result of 1 home newly listed @ $1.7.

Pendings: 67

Avg LP: $162,655

Solds: 35

Avg SP: $139,430

Note: New inventory this past week has shed a high average of distressed or bank owned units. I have noticed a large number of these home this past week in Care One Homes LLC’s (Investment Group we represent) prospect portfolio. Yesterday alone yielded double-digit HUD listings in multiple areas throughout the city.

I am showing several in the Anderson Market Place on Sunday to capture a first hand look at inventory I can familiarize myself with for my clients. I will be sure to report these conditions on our Weekend Review Post this Monday.

Everyone have a great weekend!

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