Will falling gas prices affect real estate sales?

Over the past two weeks our listings showed on average 2.2 times each (or 1.1 times per week).   Showing traffic remains slow as we near the end of the summer and families prepare to send their children back to school.   Typically there is a slight increase in real estate activity after Labor Day as people return to their normal schedules.

Watching the market news over the past couple weeks, the biggest thing that sticks out in my mind is falling gas prices.   The media certainly hasn’t been filling our ears with this news the way they did as the prices went up, but that comes as no surprise since positive news never seems to get them the same ratings.

Nevertheless, gas prices have  no doubt begun to fall dramatically in the past month.   The cost of a gallon of gas is still much higher than a year ago, but the fact that they’ve stopped rising at least  halts fears that the rise will go on forever.   There  are still plenty of mixed signals about the state of our current economy, but the  removal of  fear over rising gas prices will certainly help to encourage  ‘on-the-fence’ home buyers to get down and  make their move.  

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