According to the Sussex County Association of Realtors, the housing statistics for 2008 thus far are rather positive considering the state of the nation’s economy, rising gas prices, energy costs and interest rates. There have been over 2,400 homes, including townhomes, condos and mobiles, and just under 300 lots sold since January of this year. The county has also seen an increase in commercial sales, which supports the notion that this county is growing and remains a good place to invest in real estate. We have seen a rapid rise in population, and big commercial companies, as well as small local ones, see the potential and economic benefit of investing in this area. This trend only solidifies our local market and will help carry it through the housing crisis. If you have not seen them yet, keep an eye out for local billboards advertising how many homes have sold in the area this year. The numbers may surprise, while comfort you during what seems to be a downhill spiral in the housing industry.
Also keep this in mind the next time you read an article in the paper regarding the current real estate market: Most media outlets are covering the real estate market on a nationwide level. What is happening in Arizona or California is not necessarily the same in Delaware or Maryland. You really must pick apart the article and take into consideration that in more cases than not, it is based on the national market. Best thing to do would be to visit your local Association of Realtors web site and follow the statistics posted there. After all, they are relevant to your community, therefore your local market.
To visit Sussex County, Delaware's location realto association board, please visit www.scoar.com.
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