The graphs continue to show sluggish buyers markets. The average market times are continuing to increase in all three markets and are now at or near record levels.  The average selling prices are also continuing to decrease in NK and BI, and have turned down again SEJ. As is typical for this time of year, the inventories are decreasing in all three markets. 

Homes are selling, though at a reduced pace. More moderately priced homes are selling at a faster rate than higher-end homes (contributing to the overall decrease in average selling price), and the homes that are priced more competitively or stand out from the crowd have a big advantage.

Interest rates have dropped to historically low levels. The rate on a 30-year mortgage from a local lender was 5.125% on December 1. The combination of low interest rates and reduced prices make this a great time to buy. If you are selling and can be flexible in your pricing, or your house is the best one around in your class, you can be among the successful sellers.