Number of Properties sold in Frisco in the last six months: 250
Average ( SalePrice / SqFt ) : $86.77
I agree with most of the answers but nobody mentioned the interest rates.
Last week the Fed told us that growth is better than they would have predicted 6 months ago signaled by greater consumer spending, durable goods purchases and some signs of increased investment. Then, this week, the Empire Manufacturing Index showed continued growth, jobless claims were better than expected, existing home sales continued to show improvement despite the doom and gloom in the media, leading economic indicators came in better than expected, and China continued to show strong growth in their economy which is a huge driver in the global economic recovery.
All in all, a good week for economic reports which means a bad week for interest rates. Remember, as the economy grows, so do inflation worries. This forces investors to raise their rates in order to recover what inflation will take away from the future value of the dollar.
A small rise in interest rates can mean tens of thousands of dollars over the life of a mortgage.
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