Tuesday, February 3, 2009

Positive Signs of Market Recovery

Photo by woodleywonderworks on Flickr.

I know some of you must be jaded by the market, but don't miss the boat because it was reported that sales in December rose by 6.5% according to a KnowledgePlex article. It's common sense that when prices plunge, the people in the market that have been dormant for the past few years are seizing the opportunities, which is what I see happening here. Typically inventories of unsold homes decline about 8% to 10% in December, but in December of 2008 inventories dropped 11.7% to 3.68 million. This shows me that we are starting to recover and that opportunities are out there. The signs are there, but you can't be indecisive when making a decision because veterans in the the industry will hone in on good opportunities and act on it right away, leaving you in the dust.

Existing-Home Sales Rise 6.5% as Prices Plunge

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