Redding's Ups and Downs

 Don't want to risk buying a house in today's market?  Although it's very understandable, you might not be able to buy a house for years if you don't take advantage of prices and interest rates now.  Lenders keep tightening the rules for loans and owning a home will just get more impossible in coming months. 

The National Association of Realtors announced that home sales dropped in June by  5.1 percent.  The average price of homes has also dropped, with the medium price at $183,700.

The number of houses nationwide has increased and it is expected to go even higher, thus prices will go down even further.  But getting a loan will become more difficult.

First time homebuyers made up almost half of all sales, while short sales and REOs made up one-third of all sales.