REAL ESTATE MARKET ANALYSIS

REAL ESTATE MARKET ANALYSIS Many economists are looking for sales of both new and existing homes to fall by around 10% this year as rising mortgage rates crimp demand. The lowest mortgage rates in four decades helped to propel sales to five straight annual records from 2001 through 2005. A recent report from the Commerce Department indicated sales of new single family homes increased 4.6% in may. The largest increase, 6%, was in the south. Many economists also believe that the huge backlog of unsold homes will put more downward pressure on prices in coming months. The Commerce Department report for May 2006 shows the median sales price was up 3.1% to $235,000 as compared to May 2005. For information about Ormond Beach and Ormond By the Sea homes and condos for sale or rent, contact Ocean View Realty Group or visit our web site at http://www.ovrealty.com/. Marion O’Connor is our sales specialist – ovforsale@aol.com Deanna Thomas is our rental specialist – ovrentals@aol.com Ocean View Realty Group 1350 Oceanshore Blvd. Suite A Ormond Beach, Fl 32176 386-441-8245 Fax 386-441-2407 Toll free USA & Canada 800-356-3409 Vacation rental information is at www.ormondbeachcondorentals.com