Kittery ME Real Estate - October 2008 Market Update

Lawrence Yun, NAR chief economist noted in October that, "A trend away from subprime mortgages to FHA loans, which often carry much lower interest rates, is a positive development for consumers and the house market going forward. Still, it will take some time for the change to yield a measurably higher closed sales volume in the aftermath of the subprime collapse. In the near term, we expect home sales to remain fairly stable." As real estate markets are local, here's what happened in the Kittery/Eliot area market in October:

**10 homes sold in October

**Year-to-date, 105 homes have sold in the Kittery/Eliot area

**18 homes are currently "pending sale" with active contracts

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