Kiplinger View of the Market

My friends, Kathy Harrison & Mikal Knotek (www.financinghelp.com), at Bell Mortgage sent a note today in their weekly home loan rate sheet that included the following:

"Kiplinger this week had some positive news in that they feel the talk of a crisis may be overblown. Mortgage demand, which is adjusted to seasonal swings, is up 10% since it bottomed out in August. The economy continues to add jobs which we all know ties to the housing market. The worst downturns seem to be in line with unemployment numbers. Overall it appears median prices are dropping 4-5% this year and total home sales will fall about 8.5%. That is a correction, not a crash."

I will continue to pass along items of interest as I encounter them. It appears that there will be some recovery in the home sales market this year. Hooray for us all - consumers and real estate professionals alike!