For some reason buyers seem to all be on the same wave length. This phenomenon is unexplainable and the very same reason I've attempted to get buyers to buy while other sit on the side lines. Home sales plummet and few buyers take advantage then overnight buyer, all at once, start buying. Few had taken advantage of the market and all of the sudden homes are getting multiple offers and interest rates jump a half point or more. So buyers stop buying, prices drop, interest rates drop, bargains are to be had and buyers stop buying. This is the roller coaster market we have been in for the past 3 years. This is not as bad as the 2 previous years though as few homes sold, there were no or few distressed sales and many found themselves out of work in the real estate field.
Believe it or not the recovery is just around the corner. Homes sales are dependent on jobs and jobs are dependent on home sales. At some point soon the media will ignite positive thinking and consumer confidence will grow. Homes will sell and people will go back to work. At that point the rest of the world will look to America and see that shining light. Be careful because when this happens gold prices will fall fast!
Your Friend & Realtor