Ocala Real Estate Market Report December 2010

Home sales in Ocala and surrounding Marion County were up in December.  Sales were up by about 10% over October and November. Although December sales appear to be during the holidays, contracts take 30 to 45 days on average to close, so December sales are based on contracts written in October into early November.

I’m not going to get into new years predictions BUT I’m pretty sure prices won’t be going up any time soon. I am concerned that interest rates will go up. The Fed is artificially keeping interest rates low and it can’t last forever. Higher rates will hurt buyers who need financing by wiping out gains from lower prices. However if interest rates go up enough to force prices even lower cash buyers could benefit.

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