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Lake Wylie, Tega Cay and Fort Mill Area Blog

Informational News Blog by Angie Adams. I'd appreciate your Comments!

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Are national home prices on their way down?

They’re not falling – they’re flattening out. In recent years, housing prices rose dramatically in coastal areas, which traditionally have the most volatile prices, including New York, California, Boston and Florida; and places like New Mexico, Colorado, Arizona and Utah which tend to follow coastal trends. That was because of the historic low mortgage interest rates, making it easier for people to borrow more money to buy homes, so sellers raised their prices. Now interest rates are gong up again, home prices will level out and go up only slightly and more steadily. That said, interest rates are still relatively low, so if you’re thinking of buying, now might be a good time!

Published Tuesday, November 07, 2006 4:40 PM by Angie Adams NC/SC REALTOR® Broker

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