Steady growth in sales volume has been seen in Chicagoland real estate from January 2009 thru September 2009.
While the number of closings for September 2009 decreased from the prior month, closed properties remain higher than September 2008. Also there has been much ado about Pending sales, units under contract has increased for the 10th consecutive month. Unfortunately, just because a home is under contract, it does not follow that any given contract will become a closed contract. The credit market is still not functioning well, purchasers may find banks unwilling to loan funds for properties. In some cases because a property may not appraise well, or the purchaser may be considered a poor risk.
Mortgage rates for conventional 30 year fixed loan remain near the 5% level, indeed, dropping to under 5% for the week ending
Nice. I like the way you collected all the information. Very informative!
Deirdre G
Posted by: Real estate Philippines | February 17, 2010 at 09:53 PM