- PRICES ARE DOWN - WAY DOWN!
2.) INTEREST RATES ARE LOW!
Thirty-year fixed-rate mortgages averaged 6.32 percent during June, compared with 6.66 percent a year ago. Adjustable-rate loans averaged 5.15 percent compared to 5.68 percent in June 2007.
3.) INVENTORY IS STILL HIGH BUT GETTING LOWER
The inventory dropped from a 10.2-month supply to 7.7 months.
This is the kind of market that makes people wealthy.