As with the rest of the country, the expiration of the federal home buyers’ tax credits has created a lull in the market, with many people that would have bought in July deciding to buy in April and May to take advantage of the tax credit. A month later, there are fewer buyers, leading to fewer sold homes, and more homes left on the market.
The good news is that it didn’t affect prices much at all. The average home sales price actually rebounded from June, up to $287,939, the highest in the last 12 months.
The median sales price also rebounded, but to a more modest $246,000.
What will the future hold? There is still a great selection of homes on the market, and interest rates are at historic lows. One day we will all say, “I wish I would have bought real estate in Humboldt County back in _______!” What will be the date in that blank? It could be today! If you like the idea of buying at low prices with low interest rates, give me a call at (707) 499-7111, or search the available properties on my website.
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