[quote=sdrealtor]CAR
I just dont see how you can claim this is the weakest Spring in a decade based upon such a myopic view. Clearly it is not and the evidence can easily be found on the home page of this site. Just check the April data rodeo. In 2007 and 2008 prices were free falling. In 2008 sales volumes were much lower. By what measure are you using to support this claim. I know I’m not seeing that with my listings nor on the properties my clients are writing offers on. What I see is stern competition for decent properties priced at the market. I dont see what you claim to see nor does the data support it.[/quote]
Here’s what I see. When we’re out and about looking at houses, we see buyer traffic. We have always been “on the street” looking, not just sitting behind a computer screen, BTW. Even during the darkest days of the “financial crisis,” with the exception of 2H 2007 (buyers were looking, but very few could get loans, so sales tanked and inventory skyrocketed), there were tons of buyers swarming around any new listing that was reasonably priced — even if it was a rough property. Today, we are seeing what have been fairly “hot” properties sitting for extended periods of time, with very little buyer traffic, and at prices that are lower than at any time in the past ~7 years.
Are sales still going to happen? Sure, just like they always have, but there is far better inventory at better prices than what we’ve seen since 2004. On top of that, we’re seeing extremely low interest rates, which have always spurred sales in the past. During this past decade+, we would always see an immediate and direct effect on the housing market whenever rates fell this low. We are not seeing that now, and this is during the typically busy “spring selling season.”
There is no doubt in my mind that the market has shifted over the past 6-8 months.
Are you honestly telling me that you don’t see the slowdown, sdr?
