Ahhh Spring! Nothing like snow and cold to welcome in spring! We know all about climate change here in the Northwoods!
Real estate sales have been on the cool side as well. I have no doubt that the present state of the economy has many potential buyers still on the sidelines. The cold and snow here and to our south has not helped the market. We did see a 25% increase in sales vs. February 09. The chart will temper our enthusiasm in that this was still the second worse month in the past 10 years. We take any sort of positive news as a glimmer of hope.
Obviously Sellers are enthusiastic with a large increase in the number of listings. Showing activity which is difficult to track is showing a definite increase. I don't anticipate a huge April but I do anticipate a much stronger May and June than 2008. Booked sales are definitely up but we are seeing more reticence with the banks. Commercial loans are simply not available. Home loans are another story. Freddie Mac said today that the average 30 year fixed mortgage last week came in at 4.875%.
There never has been a better time to be a Buyer!