Oregon Mortgages

Holidays!

I hope everyone had a great Thanksgiving. If you’re like me you ate entirely too much…

On to some market news. A report that was published November 28th by the National Association of Realtors shows that home sales increased by .5% which is always a plus sign! However, the median housing price did fall to $221,000 which is below the October 2005 figure of $229,000.

If you are having concerns about the market falling here is a direct quote from David Lehreah who is NAR’s chief economist. He was quick to discount the big year-over-year drop saying that an “uncharacteristic spike” during October 2005 skewed current figures. “The trend for the fourth quarter will be prices remaining slightly below a year ago. Overall prices are projected to see modest appreciation around early spring.”

So don’t stress! the market will be fine and rates are staying relatively consistant.