Sales for July were down quite a bit from previous months. From March through June we were doing 370-380 homes a month. In July we dropped down to 319. I’m sure some will blame the tax credits expiring but I’m not so sure. I’m going to wait a month or 2 and see if this is a trend or a statistical aberration.
Looking back at old Market Reports you can see that although sales are up in 2010 inventory has remained about the same. As long as inventory is as high as it is our severe buyers market will continue.
The average 30 year mortgage dropped again to to 4.44% for the week ending 8/12. The 15 year rate was 3.92%. This is the lowest rate since Freddie Mac began keeping records in 1971. These rates are being kept artificially low by the FED to stimulate the economy. These rates can’t last forever.
If you’d like to know more about Ocala area home prices email me, call me or use my Ocala Dream Home Finder.