This month’s PTC Index shows some shifts in numbers as the summer winds down. As we anticipated, the expiration of the Federal Tax Credit program for first-time home buyers brought a dip to July home sales. Additionally, recent unemployment figures and prudent lending conditions forecast moderate sales increases in the coming months. Notices of Default filings inched up in July, but are relatively low compared to this time last year and increases in property values will be slow with current distressed and bank-owned property inventory. The positive news is that with the Federal Reserve’s decision to purchase government debt, we see virtual assurances that interest rates will remain at 60-year lows and could possibly continue to decrease. This, coupled with today’s appealing home prices, will undoubtedly drive new buyers into our Treasure Valley market. What do you think the autumn will bring to our housing market? Leave a comment and let us know!