Latest Real Estate Statistics : February 2013

Keeping in step with the majority of the country, the local real estate market continues on a steady, positive path. All indicators continue to point to a gradual recovery and show signs of the market changing from a strictly buyer’s market to more of a neutral and possibly even a seller’s market.  

Interest rates are still volatile, but are looking like they are on the increase. Currently, interest rates are hovering around 3.5%. At this rate, you are roughly paying $4.49 per $1,000! This means on a mortgage of $250,000, your interest and principle payment would be $1,122.50 / month. Compare this to what monthly rent is costing now in our area.

The choice, if available to you, is an easy one to make. Not to mention the deductable interest and income deductions for owning a home.  

Here are the local real estate statistics for the month of February.