Boone County Housing Picking Up?

Well as you can imagine we are almost a month in to the spring buying season and I must say I am fairly impressed with the real estate activity I am seeing. Given the negative media attention the housing sector has received, the increased scrutiny of lending guidelines, the volatility in mortgage rates and the notion of declining home values Boone County Missouri has fought through the battlefield and I believe finds itself in a very good position to take advantage of the last 2 years of under performance.

Through all my conversations with realtor's, title companies, our business activity and appraisers I can honestly say we have gotten off to a better start to the home buying season than I had originally planned. It seems the buyers are crawling out of the wood work and are less apt to "low balling" sellers who at times are desperate but those are far and few between given the inventory currently on the market. In fact I have heard that of Boone Counties home inventory approximately 22% are currently under contract and pending; that's very good in my opinion!

We have spoken before about how impressed we were with the resiliency of the Columbia market and these types of conversations, statistics and activity are a prime example of it. Great job to our realtor base for overcoming a ton of adversity in this market and I would also like to applaud the lending community for it's roll in "not panicking" in this extremely volatile and tough lending environment.

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