Mixed Message This Week

In general the market and showing traffic in the Charlotte Metro area continued at a slow pace this week.  On average our listings saw 1.7 showings each over the past seven days.  We’ve gotten some mixed messages from the media ranging from talks of a coming rececession to signs of a recovering housing market.  Alan Greenspan commented last Sunday that IF housing prices drop significantly, a recession could soon follow.  However, the chief economist of the Natl Assoc of Realtors, Lawrence Yun, is predicting that the housing market will recover markedly in the fourth quarter.  Fortunatley, the Federal Reserve reduced a key interest rate by 1/2 percent this week which instantly had a dramatic impact on the stock market.  That interest rate reduction is sure to increase consumer confidence in their purchasing power within the real estate market.  I’m staying hopefull that the power of positive thinking will prevail and that the optimists are correct!

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