"During the third quarter of this year we have seen a cooling of the local real estate market", says 2012 LSTAR President, Barb Whitney.
In her opinion, the new mortgage regulations that came into effect on July 9, 2012 have had a dampening effect on the market. "With the end of 30-year amortization periods, fewer buyers can qualify for a mortgage than previously and this will have downstream effects over the whole rest of the market," Whitney adds.
Watch the following video for a a detailed statistical report on the real estate activity in our Association's jurisdiction for the third quarter of 2012.
