I am an emotional economist…I watch, read and listen, but in the end believe my gut and go with what I pick up from real live people.
Since Labor Day-you know, when the housing market typically starts slowing down-I have believed this year, this cycle was different, and that positive change was bearing down upon us. Was hearing it in the phone calls, seeing it in my jobs, and watching as agents I do work with were getting properties SOLD.
Have shared it with people I know, wrote about it a few times, but not being a REALTOR, not exactly feeling comfortable about shouting it from the rooftops.
In the last 2 weeks, have been reading a number of posts in my beloved ActiveRain that were written by, and commented on by smart people…in all parts of the country. Increased activity. Nate Tutas, an independent Realtor from Davenport FL recently wrote a great post asking why only bad news was being reported.
The group consensus is that only bad news gets our attention, but I have another theory.
Real estate will always be an emotionally charged industry. Economic conditions in the last few years have created an uber-touchy market, or as I have gotten fond of saying, a herd mentality.
Glut of properties of all types on the market, historically low mortgage rates, my theory is that the ready willing and able folks who have been laying low, and biding their time are realizing the party is coming to an end, and recovery, like the first rays of a brilliant sunrise, is in the offing.
SO-before the rest of the herd gets a whiff of it, and drives rates and prices up, they are making their move. Just not talking about it. Time, of course, will tell…but how cool would that be??