Florence Oregon Real Estate Showing Activity Up

The 30 days previous to this post has netted a total of 10 solds out 482 active residential lisitngs with an verage asking price of $273,000. The sold properties average sold price was $187,000.

Interest rates have moved up close to a full percentage point in the last 2 weeks to around 5.75% apr for a 30 year fixed rate mortgage.

I believe that many American homebuyers are at a crossroads. They either believe we are at the bottom of the "tub" and there will never be lower prices or interest rates than today or they beleive the bottom is about to drop out of the "tub" on a long term and global economic basis.

I am personally convinced that inflation caused by the government's ravenous appetite for debt, forces interest rates to only go up from here!