Is the market picking up a bit....YES, Unit Sales are UP in Most Markets, Pricing is very close to showing an increase year over year for Essex County, Is there a lower supply of quality homes on the market...YES,There is currently ONE Multifamily home for sale in Beverly under $300,000, Are mortgage rates near historic lows....YES, 30 year fixed rates still in the low 4's. There are still many factors that affect the housing market and the big factors are: 1)Banks ability to lend money 2) Number of homes in foreclosure or close to foreclosure, 2) job market, 3) Potential Gas and oil prices, 4) Debate of Renting vs Buying which equals Consumer Confidence.
Still appears that 2012 will be a better year than 2011 for the Housing Market. But still proceed with caution and find the right home for you and your family.
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