Some of you may have read the blog I wrote about a month and a half ago stating that there was statistical proof that the housing market might have bottomed back in March.
Since that blog there has been more and more evidence and positive news relating to housing sales going up, the economy turning and the the stock market trading in a more normal pattern.
As all three of these financial elements gain momentum or in the stock markets case, trade in a reasonable fashion, more buyers will come back into the housing arena. With the levels of buyers we witnessed last fall and winter, basically being non existent, at some point they have to come back. There are just way to many reason that force people to buy and sell homes. Those people have to come back, investors have to come back. Not all investors got burned in the down turn. Did everyone get burned in the stock-market? Of course not! If every stock investor got burned there would be no one left to buy and spurr the 45% rally that we have seen in the last few months. Housing investors have to come back. Second home buyers fall into the investor category to some degree. Second home buyers are very cautious at this point but we are starting to see them come back. They know that the time is right to buy, they just need the confidence to pull the trigger.
If we have no major financial whiplash, terrorist attack or anything that could reverse the course we are on, this fall could be a reasonably good one. A slow but steady up hill climb is what we need. Let’s stay the course!