Interest rates are on the rise. It is anticipated that we will be up a whole point by the end of 2005. What does the industry think this means?

Some think that sellers will hold off moving out and up. The thinking is that with their current mortgage at 5%, why move into a mortgage at 7% or higher? So we may see inventory drop, again. This would create another situation of high demand and low inventory, meaning high sales prices.

What are your thoughts?

Looking forward to hearing from you,
Michelle Stephens

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Quote of the month: “I would rather have a mind opened by wonder than one closed by belief” — Jerry Spence