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We see it now!
Well, do you believe that?
Keller Williams Succes...
Uncertainty in the economy. You probably noticed that the Fed has not made any changes, and the oil prices are beginning to rise again. A
Is it not up yet in your area, Kevin?
I think it goes back to peoples' confidence that they will keep their jobs and income intact.
Many sellers have just recently realized a break even from the values they lost when the market slowed down, they're likely hesitant to sell right away now that things are finally 'back to normal'.
I also think the economy is far more uncertain than the DOW has indicated over the past year - the unemployment rate is greatly exagerrated and doesn't reflect a stagnant job market, and wages haven't kept up with the rest of the economy, so there are fewer first time buyers and move-up buyers. Add student debt into the equation, leaving recent college grads with a ton of debt and the entry level job market not offering wages to support the debt - they can't buy the homes that potential move-up buyers would be selling. The past 6 years have created quite a mess.
FEAR of job stability and political uncertainty.
I don't know where you live and work, but my Minnesota market is HOT!
The economy, mainly jobs that pay well and some ridiculous lending practices.
Kevin, in our market on the other end of the state, housing prices are still dropping. I think buyers are still uncertain of the economy.
We are located in the mountains in a second home community. My perception is that most folks are still worried about keeping their primary home safe and not splurging on a second or third home as a getaway.
I hope your market improves along with ours - SOON!
In my market, houses are selling for more money. I believe it is due to a lower inventory of houses on market.That could be because there aren't as many foreclosures being listed.
Credit challenges & lack of down payment. We are up from previous but our total # of closed was not as high as 2013 which is a bummer.
I think in many parts of the country it has rebounded. We never slowed down or had a severe revearsal so our market is steady and I hope it will pick up in spring. I think many buyers are complacent with rates being low for so long and some sellers still aren't happy with their selling prices and are holding off.