Earlier this month, I had indicated that the market looked to be getting a little better. While this is true, it certainly looks like it is going to take some time for our ‘recovery’. Our Absorption Rate (or inventory numbers) continues to rise, while our sales decline slightly. The decline of sales is mainly due to the time of year and the lower numbers from the last twelve months. As some sellers are getting more desperate, we have seen a reduction in sales prices (not necessarily a reduction in value). Recently our government has voted to “restore our economy” with a stimulus package that has been much anticipated and may or may not actually be a help to our economy.
With all of this said, we are anticipating our market to start its recovery in the third quarter this year (it might even begin earlier in the second quarter). With inventory numbers are high as they are right now, I am trying to spend all of my time marketing property; Taking extra time to find new marketing mediums and continuing to build upon those I have already established. Your input is greatly appreciated, as I know there are new websites and marketing mediums that hit our market everyday.
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