John L. Scott Real Estate Chairman and CEO, J. Lennox Scott, announced today that March was the most successful month in the companys 73 year history. Scott attributes this success to a number of unique factors currently taking place in the real estate market, and what he calls, rational exuberance, on the part of the home buying public.
Record numbers of people throughout the Puget Sound area are excited about the housing market and theyre making the wise and rational choice to take advantage of the opportunities low interest rates are affording them to invest in homeownership, Scott said. As a result, we just had the best month in our companys history.
Scott added that the dip in interest rates during first quarter of 2004 caused a power surge of buyer activity, with March reaping the largest benefit.
February and March are traditionally the most productive months of the year on a daily basis, he noted. This year that productivity was bolstered by a drop in interest rates and a flood of buyers wanting to take advantage of low rates while they still can.
Scott predicts another surge of home buying activity when rates begin to rise again later this year, but in the meantime he contends that there has never been a better opportunity for homeownership.
John L. Scott has 123 offices and over 3,500 sales associates located throughout Washington, Oregon and Idaho.