With rates still hovering in the low 5% range and the 1st time home buyer tax credit about to expire, activity in the sub-$400K price range is strong. It is still a GREAT TIME TO BUY, especially in Philadelphia and the surrounding counties. However, despite the increase in showing traffic, pricing is as important as ever. If a home is not priced right, it will still not sell, no matter how many people take a tour.
Ideally, once the lower priced homes go under contract, we will see this activity in high price ranges. Inventory liquidation will be the key.
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