Useful Stats from St. Charles County Association of REALTORS®
• Consumer Confidence rating is at a 4 year High
• Local Listing Inventories are Dropping
• Pending Sales UP by 20% 1st Qtr. 2012 vs. same period 2011
• # of Housing Units Sold have increased for the past 8 Months
• Home Values are Stabilizing/Some Areas Appreciating
• Foreclosures and Short Sales Showing signs of Stabilization
• Rental Vacancy Rate is the Lowest in 10 Years
• Rental Cost Higher than Cost to Purchase a Median Priced Home
• Rents are Expected to Rise 3-5% for the next several years
• GM Plant Expansion resulting in healthy Multiplier Effect on both Housing and Local Economy
• Mortgage Interest Rates Expected to Rise. A 1% Increase in Mortgage Rates equates to a 15% decrease in Affordability. If a Buyer was Qualified to Purchase a $200,000 home at 4%, then if and when rates rise to 5%, then the same Buyer’s Purchasing Power would be Decreased to $170,000
