Harrisburg Area (Tri-County) Happenings & Statistics

Prices in the area are down for August
August 20th, 2013 6:49 PM
The average and median sales prices turned downward so far in August.  Click here to see the graph.  Why are prices declining when all we have heard recently is that prices are increasing?  My take on this: Supply & Demand.  Over the last several months the number of listings have increased well beyond the number of sales.  This is just my general observation and is not scientific.  A lot of folks hearing that prices are rising rushed to get their houses on the market to finally cash in on the rising tide.  Ultimately, many did cash in.  Rising interest rates, although still historically low. didn't help the situation.  Couple that with more housing inventory.  Supply is up, demand is down - lower prices.
Posted in:General
Posted by Robert Ensminger on August 20th, 2013 6:49 PMPost a Comment

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