Spike in summer sales boosts fall real estate outlook

All-time low interest rates make now an appealing time to buy June home sales overcame market factors that could have slowed the area’s real estate recovery, experts said, sparking optimism for continued strong sales into the fall.

One of those factors, consumer confidence, remains low with an uncertain economy and a volatile stock market. Also cause for concern is the Federal Housing Administration’s announced reduction in the conforming loan limit. On Oct. 1 the amount of money that can be borrowed under an FHA-insured loan will drop $104,250 from $729,750 to $625,500 for the greater Washington area.