For months now we have consistently reported on the significant reductions we have noticed in the number of homes for sale in the Coeur d’Alene real estate market. This trend coupled with a strong increase in the number of home sales we have realized will go along ways toward stabilizing prices which have been declining over the past 5 years.
Coeur d’Alene is a market uniquely dependent on other markets, as a significant number of home sales in North Idaho are the result of Buyers moving into the area from out of the region. So when I ran across a recent article in the Wall Street Journal by author Nick Timiraos I gained some confidence that the recent positive trends we have enjoyed may continue on into the near future. Nick reported the results of a survey conducted in 18 metropolitan markets which depicts the buyer’s sentiments that prices are on the incline and their time to straddle the fence is coming to an end if they truly want to cash in on lower prices and historically low mortgage interest rates. READ ENTIRE ARTICLE HERE
Our Coeur d’Alene Multiple Listing Service May numbers will be coming out shortly and I will report the findings, but in all likelihood we will continue to see both supply and demand trends strengthen. It doesn’t matter who I talk to locally (mortgage lenders, title reps, other agents) everyone echos that their respective businesses have been benefiting by increased activity in the real estate market.
For information on how you can best capitalize on low housing prices and mortgage rates give us a call and we will take a hands on approach in helping you make a sound investment decision in the face of today’s opportunities.