“Our team has been closing a record number of transactions in the last few months,” Turner Team realtor Charles Turner wrote in a recent blog post. “These numbers exceed the month that the First Time Buyer Credit expired and any of the peak months of the 2005-2007 ‘crazy’ market before the crash,” he said.
Of course, it becomes a case of be careful what you wish for. The double-digit jump in the average sale price is “frightening,” Turner writes. “Hopefully the market will settle down to an appreciation rate of around 5 percent. That should be sustainable.”
I wrote that just as interest rates were spiking. July was our best month yet but August has cooled which seems to mirror both our local and the national markets.