| Economy: High unemployment, BP oil spill, scared stock market, european currency woes, consumer confidence all weighing on an economy that is trying to buck the head-winds.
Late Spring Market: Fading into summer doldrums. some 'talk' of double dip in housing prices. great for buyers, sad for sellers. Fed stimulus gone and forgotton. |
Stock Market: Some "smart money" shifting into real estate to take advantage of large recent up market. Market may be correcting lower off of Europe fiscal worries, currency woes and global slow-down. |
| Inventory: Some old inventory still hanging on though the best choices are being "picked off" by value-conscious buyers who think the end is here or near. More homes coming on daily, including homes in foreclosure and pre-foreclosure. | |
| Pricing: Nearing or at bottom after 30% +/- correction from 3rd quarter 2005. Flat lining or going down another notch? | |
| Trends: Downsizing across the board. In-town and cul-de-sac living. Pools are in favor. Buying in a good location is paramount again. Buyers willing to pay for "luxury" rather than size. Waterfront and waterviews are desirable. Choosy buyers demanding "good condition" of potential purchases. Rentals as an alternative to purchase. | |
