Has Bucks County been affected by the current real estate market woes that are being felt around the country? Take a look at the current stats from the second quarter of this year. Now take a look at the same quarter from 2005. You will see from these two diagrams that prices for the real estate market in Bucks County has been pushed back to about where they were in 2005.
And here is 2005
Pros: Excellent opportunities for first time home buyers. Excellent opportunities for home owners looking to buy up into $500k and higher range. Excellent opportunities for investors looking to buy and hold.
Cons: Since it has recently become harder for Americans to get mortgage loans, there are less buyers on the market. Economics 101-with less demand there is an increase in supply resulting in lower prices and houses sitting longer on the market.
Looking ahead: Currently, lower mortgage rates and increased government regulation is expected to help the real estate market. We should hopefully see prices begin to increase in Bucks County. Stay tuned for more!
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