Realtor: Local market is fine

SUNBURY — The economy has had its impact on the national real estate market — but locally, things aren’t so bad. Art Bowen, founder of Bowen Agency Realtors, says the local market is “holding its own.”

 

“The first six months of the year were pretty good,” Bowen said. “July seemed to slow down significantly, but overall August seems to be perking up. Agents are busy and there are many contracts. A lot of people want to get in before winter when the snow flies.”

 

Bowen says realtors look at statistics from the past to try to determine what might happen in the future, “Last year was one of the best years ever in our five county area. It’s kind of hard to keep that trend going. A lot of the buyers who were in the market bought in the first six months. We may have a normal market coming back, but we just need to wait and see what happens in the next quarter.”

 

Bowen says underemployment is one thing that may be affecting the real estate market now. He says while the unemployment rate is lower, many people don’t have as high a paying job as they may have in the past.

 

Bowen was a guest on WKOK Sunrise Monday. You can hear more about the real estate market and more here. (Codi Jade)

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