It's always the best time to buy

geoffrey_bMarch 22, 2013

I came across this interesting article - complete with graphs from the FED.

A couple of choice quotes:

âÂÂThe continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.â ��" David Lereah, NAR mouthpiece/economist ��" August 2005

âÂÂThe steady improvement in home sales will support price appreciation despite all the wild projections by academics, Wall Street analysts, and others in the media.â ��" David Lereah, NAR mouthpiece/economist ��" January 10, 2007

âÂÂBuyer traffic is continuing to pick up, while seller traffic is holding steady. In fact, buyer traffic is 40 percent above a year ago, so there is plenty of demand but insufficient inventory to improve sales more strongly. WeâÂÂve transitioned into a sellerâÂÂs market in much of the country. We expect a seasonal rise of inventory this spring, but it may be insufficient to avoid more frequent incidences of multiple bidding and faster-than-normal price growth.â ��" Lawrence Yun ��" NAR mouthpiece/economist ��" February 21, 2013

This is worth more than a casual read:

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I don't think anything shocking here unless RE Agents need more marketing convincing buyer they must execute a deal immediately.

Housing market was at the bottom a few years back, and even though we have financial concerns as a nation - we are much more comfortable vs. 2008 and stock market is at an all time high. Whether we are repeating our missteps or have an increase faith in the White House (even though polls tell us differently). People need someplace to live and when your 401K looks healthy you take risk.

The stats which are missing is foreclosures have been put on hold for a while due to robosigning and paperwork reconciliation - which will cause another burp once that starts rolling again. There is still considerable inventory in queue for some action.

    Bookmark   March 25, 2013 at 11:23AM
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