Mortgage rates jumped into the mid-4% at the end of June, and most of us thought that would put a damper on sales by the end of summer.
Buyers who had locked their rate for 30 days were able to close in July. By August, you’d think that we’d be seeing some evidence of market slowdown.
Incredibly, the market has kept up, at least for now:
NSDCC Detached-Home Sales
In the last two days of August, 2012, we closed 48 sales. With two days left this month plus late-reporters, we should end up with well over 300 sales, with average pricing up 4% over last month! Wow!