Lawrence Yun, senior NAR economist, said “Now that mortgage conditions have improved, some postponed activity should turn up in existing-home sales over the next couple of months, and I expect sales at fairly stable to slightly higher levels.”
Existing home sales are expected to rise to $5.7 million in 2008 – making it the fifth highest year on record. Existing home prices, which declined 1.9% to a median of $217,600 in 2007, are expected to go back up about .3% in 2008. As Yun noted late in 2007 “even with a modest decline in the national aggregate price this year, it’s important to keep in mind that nearly two-thirds of the metro areas in the US are showing price increases … the apparent disparity results from fewer sales in high-cost areas, so a change in the mix is dragging down the national median home price.”
To find out the latest trends in Ludlow VT real estate, please call me at 802-353-1983 or visit ISellVermontRealEstate.com. To begin searching for Okemo Mountain VT homes, please use my complimentary MLS search.