Say ‘hello’ to sane housing market
If you’ve gotten the idea that the sky is falling on the real estate market, 2006 is actually one of the best years on record for home sales.
The average price of both new and existing homes combined rose a healthy 8.2 percent during the second quarter of this year, according to the Federal Housing Finance Board. It’s not the manic market of 2004-05; it’s a much saner one that has thrown some clout back in the buyer’s direction, by virtue of a bountiful inventory.
It’s not bad to make room in the driver’s seat for the consumer. In fact, it creates a healthy competition among sellers and developers to earn business. The onus is on developers to raise the bar, product-wise, in order to attract buyers. Gone are the days of dime-a-dozen deals and rank amateur Realtors raking in commissions with little or no work. The pendulum has swung back in the direction of good sense and careful decision-making.