A fall in interest rates over the first quarter in this year lead to a boost in activity in the local market in February as statistics are finally released by the Columbus Board of Realtors. The number of homes under contract increased over the previous three months as well as over the same period in 2007. Additionally despite a slight fall in actual sales the level of inventory has fallen over the previous month and year which is excellent news and is a sign of the market levelling off.
Whilst the drop in interest rates is mainly credited for the increase in activity as buyers were waiting for a drop. Now, despite the credit crunch there are some great mortgage deals to be had which has spurred many buyers on who have decided that now is probably the best time for many years to purchase a home.
If you are considering buying a home in the area then please contact the Raines Group for Real Estate assistance in the Columbus Metro area as well as Central Ohio Villages including New Albany, Gahanna and Johnstown.