The age old debate of which came first, the chicken or the egg, has never been actually decided. And in the real estate market, I’ve always wondered, what comes first, the purchases or the press? (Today, I guess it really doesn’t matter — I just hope they continue to feed off each other until we’re out of this festering economic mess. )
Case in point. The most recent headlines tell us that things are on the mend, and it’s occurring across the nation. In Orlando, there is a surge in sales of lower priced homes, in Santa Clara, April stats showed an increase in activity, and in Fort Worth, signs of healing are starting to show. Of course, some areas are still slow to pick up, but there is hope that they simply lag behind. For example, in Oneida County, New York, sales are still down, but spirits are high.
Keep it coming. Keep it coming, press people. Focus on the positives and let’s hope that we can create a bandwagon that potential homebuyers will be eager to jump on to. It seems that new buyers are finally taking the plunge. Momentum provided by a perfect storm of big tax credits, ultra low interest rates, motivated sellers and inventory extraordinaire are causing lower priced condos and houses to actually sell again.
Is this enough to call it over? Probably not, but it is certainly a good first step, and an upturn in the real estate market is likely to generate some momentum that can potentially affect other key economic indicators, including the job market, the stock market, retail sales and travel and tourism. I for one, am quite happy to see that this new media attitude and regardless of whether the purchases or the press came first — keep it moving, people!
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