April is finally here and we are finally hearing some good news about the real estate industry. Don't get me wrong there are those out there that still feel that the sky is falling in.
The bottom line is there was an overreaction to the inflationary increases in real estate over the period between 2000 to 2006. As a result, real estate in most areas is now undervalued and the consumer has taken notice. This is a very good sign, as it shows that the pent up demand that we have all talked about for the past couple of years is starting to kick in.
The inventory is decreasing in our area. Sure, sellers are taking their properties off the market, but so what? Sellers have always taken their properties off the market unless they could get what they wanted. There is nothing new or revolutionary in this strategy. This will help greatly in stabilizing our market. We have 22% less inventory on the market than we did a year ago.
Sales are still slow but we are seeing increased activity as our Spring weather improves. So don't believe that the sky is falling, there is always light at the end of the tunnel.
If you have any questions on our current market or if you know someone that is interested in selling or buying real estate, please give me a call.
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