July 2010 NCCO Real Estate Market Update

Ncco real estate market – summer slow down continues for month of July – Pending home sales are down 42% compared to July 2009.   Year to date sales are still slightly ahead (3%) of last year’s pace, thanks again to the heavy activity in the Spring due to the first time buyer tax credit.   However, looking at the numbers going forward it appears that as these lower #’s of Pending home sale begin to settle,  year to date sales will begin to trail 2009 numbers starting in August.  The one bright spot is that interest rates remain at near record lows, so that anyone who is in the market to buy, will benefit from the rare combination of declining prices and low interest rates.  For more information on the market in your specific area, contact John Luca today - 302-999-6966.