Listings continue to decrease (1932 last week; 1859 this week); sales however climbed and it is probably due to the paper work being delayed in recording sales therefore the prices which had been going down now appears to have stabilized over the last week.
The chart below summarizes the last weeks statistical numbers. However events that truly move the market are headed in the opposite direction.
The County's high unemployment of 11+% certainly is a driving force impacting the real estate market. Lack of new jobs creation is another impact source. Consumer confidence is at a low point.
The media is attempting to make things look good but individual common sense tells the general population something else.
Attempts to detract from the economy are going full bore but when push comes to shove it's the economy that most people dwell on. It's their personal economy that takes priority.
Expected is the hammer to fall.....tax increases. This has to come about and most are dreading the outcome. To be sure most middle and upper level pay scales are going to be hit hard. This in and of itself will not impact the real estate market but it most certainly will take longer for the market to start its upward acceleration.
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