Market Update
Sarah Rumney
I was challenged recently to choose a word for the year. What do I mean “choose a word?” Choosing a word means thinking about something you want to work on, something you want to try harder to do, just one thing… and attach a word to it. I chose a word already and then I decided this morning I might change it.
I am encouraged by Teresa R. McLamb’s article in this week’s Greater Wilmington Business Journal, “Demand rebounds for some homes.” It is just what I need to hear at the beginning of a new year and a new month. Wilmington Board of Realtors President Mary Martin of Network Real Estate says, “the local market has had five consecutive months of strong pending sales which indicates it’s not a seasonal blip. On the national level pending sales are up 15 percent and existing home sales for the year were up 44 percent.” Now that’s encouraging!
Interest rates are still at all time lows and the tax credit for first time home buyers and returning home buyers doesn’t expire until April 30th (with closings occurring no later than June 30th). I am so encouraged! I have a new word for the year – encouraged. I hope you will consider the “one word challenge” and that you will stay encouraged!
You can read the full article by McLamb at http://www.wilmingtonbiz.com/industry_news_details.php?id=1031 .
