Over the last 6 months, we have had all types of "professionals" give us their expert opinion on what our market it doing. First off, I would like to say, that no one person is going to predict what every market will do. Our market has slumped in the last few months, Charlotte and other metro North Carolina areas are still in a state of relative growth. But, market predictors such as mortgage information, current buyer’s requests, and elevated sales in areas that previously were drying out (like Florida) are giving many long time professionals a reason to smile. Several REALTORS I have had the pleasure of speaking with from the Florida market have declared their market is starting to move/trend upward again, Hallelujah. This information has been produced in many local papers, but the national media still wants to proclaim the doom and gloom to sale more papers. One professional, John Reinhardt, has stated that the market will return "back to normal" in 2008. The growth of rental prices and market confidence are beginning to rise, which will increase the number of people looking to purchase homes in the next several months. Closer to November, we should see prices and sales begin to constantly rise. Until that time, most markets will see ups and downs until we have moved away from this 'depression'. By the end of 2008, our market will be growing, and in 2009 we will have a strong market.
Some data and quotes were taken from a recent Inman interview. Go to Inmantv.com for more information.
Thank you,
Marc White
Marc@CedarFallsRealty.com
Cedar Falls Realty, Boone, NC
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