Realtor association leader: Housing market might be headed up - Chillicothe Gazette

The last time long-term rates were lower was in the 1950s, when 30-year loans weren't widely available. Throughout the past year, the average rate on the 30-year fixed mortgage has been below 5 percent for all but two weeks. Yet prices and sales remain unhealthy and are holding back the overall economy. While sales generally remain solid through the fall months, as the calendar turns to the holiday season and the cold-weather months when the numbers of those Shopping for homes fall dramatically, the chance of landing a sale for the price they want also decreases. In the survey, 54 percent of Realtors described their current markets as moderate to strong, 52 percent have moderate to strong expectations for their market in the next six months and 54 percent think home prices in the next year either will remain stable or post gains of up to 5 percent. This year is on pace to be the worst in 14 years for home sales, as more Americans worry that the economy could slip back into another recession. That's far less than the 6 million that economists say must be sold to sustain a healthy housing market. We do our best to ensure that all of the links recommended to you lead to interesting content. To find out more information about driving traffic to your content or to place this widget on your site, visit outbrain. Realtors