Friday, April 20, 2007
Real Estate Market crashes in Biloxi and Ocean Springs!!
"Ocean Springs and Biloxi real estate market is taking a dive!!" At least that's what I keep hearing. Seems like everywhere I go I hear people are saying "the market's going down." I just don't see it. Now true, the market did take a HUGH spike after Katrina worked her magic, as my illustration shows. And some homes were sold for way more than they were worth because of the low availability and high demand for housing. Some people were taking advantage of and may realize now that their house isn't worth what they paid. Now it is true that the market has slowed down. Home's don't sell in 30 minutes of listing as they once did. But the market still averages somewhere around 90 days to sell your home. But prices are still increasing at a rather nice appreciation curve. So, if you are worried about the market here, I say, don't be. Everything is alright. But hey, that's my opinion.