Homes in the Black Hills selling at a fast rate - KOTA Territory News

Homes in the Black Hills selling at a fast rate

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Spring is a great time for homeowners to put their homes on the market, and this year, they are going quickly.

Because the housing market is gaining strength just ahead of the Spring buying season, it's making it easier to sell.

"I think we have a normal spring market, maybe a little better than normal," said Remax Real Estate Broker, Mel Dreyer. "The houses seem to be moving relatively quickly."

Low rates are also helping sustain the housing recovery that began last year. As both the housing market and the economy rebounds, the window to buy is a small one.

According to mortgage giant, Freddie Mac, as of April, 30-year fixed rate mortgages were 3.45 percent, almost the lowest it's been in years.

"Interest rates are historically at a low," said Dreyer. "That we'll probably never see again in our lifetime."

Dreyer added that more people move in the spring and fall months, and that although interest rates have dropped nationwide, the Black Hills are seeing a significant drop because of the jobs from oil companies in North Dakota.

 

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