MRIS, Feb. 25, 2008–The Q4, 2007, edition of the MRIS Quarterly Economic and Market Watch Report is now available on the MRIS Web site: http://www.mris.com.2007 was a rough year for the real estate market, leaving us with inventories at near record levels. But, read The Forecast, to see why NAR Chief Economist Lawrence Yun thinks the economy will avoid an all-out recession. Yun also offers advice you can share with your clients in terms of why they should avoid a market timing strategy and concentrate on the long-term instead.
In his Trends report, NAR Regional Economics Manager Ken Fears talks about mortgage rates and their effect on our market. Ken points out that 28.6% of the MRIS region falls into the jumbo loan category and those rates can be prohibitive. But, Ken says that there are currently “boundless” opportunities for buyers in the conforming loan category and that’s where agents should be concentrating their energy.
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