I wrote a few week ago about how the real estate market is typically slow up until the Superbowl and then it takes off. Bearing this out is an almost 30% rise in listings since the beginning of the year. A lot of factors will have an impact on the health of the market and its impossible to estimate what that is until we start to see some measurable sales volume.
Some of these factors include the extended and expanded home buyer tax credits, low interest rates, low overall inventory and potential short sales and foreclosures. The most important factor in my opinion? Confidence. How do you feel about your job security? How about the government ? Are things in general getting better, worse or staying the same? The answers to these questions can help people determine if the time is right for them to buy or sell.
There are also those times when none of them can. Someone once told me that the easiest way to make God laugh was to make plans. Sometimes life makes the most carefully laid plans obsolete and this can be positive, negative, or a bit of both. Not just for mere mortals like us, but for the real estate market, too.
I'm confident there won't be too much laughter from above this year.
Monday, February 1, 2010
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