Overall economic trends continue to be down, but offset this past week by some positive news:
The paradox of our sagging economy is that there hasn’t been a better time to buy a home in a decade. Buyers who are able to see past the immediate future will take advantage of a golden opportunity. In a few years, they will look back and realize they made an excellent decision.
Buyer activity is increasing, which is great, but it won’t lead to immediate price appreciation. There is too much inventory to get through. That’s why it is more important than ever for sellers to price their properties right from the outset. If they do, they will benefit from the increased optimism of buyers venturing into the market.
Whether these events represent an uptick in a still-decreasing trend line, or the start of a stabilization of our economy is yet to be known. But after so many months of negative trends, it is welcome news for our economy and our local market.