In a transition time, there is "everything" occurring.
Difficult to sort out the trend, then, when there's a whirling cloud that spits rain, sometimes, and other times parts to let in some rays of sunshine.
I read in media reports on real estate, in my larger region, that it's the best it's been in several years, that sales are flying and multiple offers are the "norm". Then, it turns out that all the activity is in the first time buyer category, or investor buyers, looking for good rentals. There's a price ceiling, then.
I also learn, by digging a little deeper, that secondary home/discretionary markets haven't experienced the city/primary residence dynamics. One can put a second home on hold, in a worrying market moment.
As usual, the media isn't quite "right" in its reporting. This could be a result of the reporters not being realtors, and so they don't think to differentiate the layers of the business. Busy? Great! Let's go to press!
The difficulty with this broad sweep is that it makes sellers in the higher end wonder why they aren't finding themselves rushed off their feet with viewings! It also makes it difficult for the realtor to explain the changed circumstances since August 2008, and why price reductions need to be in their minds, as they assess the marketing of their unique luxury category properties.
In rural markets, the same dilemma...the realtor has to explain why the city busyness isn't transferring to the retirement/recreational markets, with the same briskness.
Transition times see everything, remember, and eventually it evens out to a broader and more consistent rhythm.
Good that there is an uptick, no matter where it's seen. Many buyers remain nervous about acting, and so that more euphoric media reporting might be the thing that propels action, from all those "should I wait? should I act now?" fence-sitters.
I see them there, rocking back and forth on that pointy picket fence of indecision!
If anyone mentions the inflation word, will they topple?
Li
We're in a market were digging a little deeper leads to success.
Good luck and success.
Lou Ludwig