One of the reasons for the increase in price and decrease in inventory is because some sellers are not opting to sell but to stay where they are. I feel the recent plane attacks on the World Trade Center and Pentagon will also make people a bit more apprehensive about buying and selling. Recently, there has been an increase in activity which has come about because of lower interest rates compared to last year. This has helped sellers get their properties sold. In addition, I feel that many investors in the stock market have decided to sell, take their gains or losses, and invest in real estate.
People seem to be trending back toward fixed assets such as real estate.
Currently, interest rates have seen a decrease since the year 2000. On a positive note, our local banks continue to gain in deposits because of the increase in retirees as well as people taking money from the stock market. Many of the displaced timber workers have enrolled in retraining classes and are looking for other employment in our area rather than relocate to other parts of the country. Our area continues to attract retirees because of our location and mild climate. We are also the county seat and home of the Veteran's Hospital.