Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, March 26, 2006. Thanks to abnormally low mortgage interest rates, home sellers had an extremely favorable "seller's market" for the last few years. That means there were more qualified home buyers in the market than there were homes available for sale. Homes often sold in just a few days or weeks. Typical home sale prices appreciated 10 percent or more annually for the last few years in many communities. Since 2000, the average U.S. home has doubled in market value, according to the National Association of Realtors. Purchase Bob Bruss reports online. But the 2006 home sales market pace has rapidly slowed down in most communities, mostly due to risin...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.