Looking at Bellingham Residential Real Estate for October 2012 you can see the number of sales were up from last year and last month, and and prices are also up from last year and last month. If you take a look at the absorption rate chart you can see we are in a sellers market. Inventory or the number of homes for sales is very low.
Interest rates are still at all time lows and they are expected to stay that way for quite a while into the future. Banks have money and they are lending it to those with good credit and work history. Take a look at the absorption rate we are now in a sellers market. Low inventory, or number of homes for sale starts to create scarcity.
The elections are finally over, hopefully gridlock in Washington DC will end as well and we can move toward more jobs a growing economy, which will increase home sales and building of new homes which in turn will spur the economy even farther.