Even though other residential housing market analysis groups like S&P/Case-Shiller Indexes® are showing another straight month of increased home prices, this activity is highly seasonal. Overall, the demand is not high and the supply in many cities around the county is even weaker. Sales have been on the slower side this summer because of the lack of credit available to buyers and overall appealing inventory to choose from. Because of this, good homes stand out and sell quickly. But with cheap 30-Year loans still averaging around the 4.5% rate, many buyers find it worthwhile to work with their banks tighter loan restrictions to take advantage of the great rates still available.
