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Stimulating Home Sales

By Brian Ripp

Real Estate Broker/Owner with Legacy real estate CA BRE#00886348

August 17, 2009 02:43 PM

National Association of Realtors estimates that the federal government's economic stimulus plan, along with lower interest rates and other mortgage relief measures, could help trigger 900,000 additional home sales in 2009, compared with conditions in the absence of the stimulus package. The association also expects home inventory to fall below an 8-month supply by the end of the year.

Brian Ripp, CRS, GRI, Broker - your Bay Area Realtor, since 1985

www.BrianRipp.com serving Fremont, Newark, Union City & surrounding communities. Real Estate & Property Management.

Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp

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Mark MacKenzie

Phoenix, AZ

These seem to be very optimistic estimates on all accounts. Interestingly, home sales have been little impacted by lower rates.

The other consideration about the month's supply of housing is that foreclosure filings just set another record in July. We are on pace for the most foreclosures in one year in our history.

Aug 17, 2009 02:48 PM

Wayne Johnson

Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX

San Antonio REALTOR, San Antonio Homes For Sale

Brian,

I'd like to be optomistic about these forecasts, and projections, but the means of measurement are so imprecise, and based on such little empirical data that I just can't accept them at face value.

I agree with Mark that the lower rates are not really moving buyers in my area. Although we are selling more houses this year than we did last year, there seems to be an atmosphere of economic discomfort that is keeping many on the sidelines. I have no hard evidence of this, just my observations of people in general and what I'm seeing in the marketplace.

Aug 26, 2009 01:36 AM

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