A second housing bubble? Huh?

This week our listings saw an average of 4 showings each.   The increase in traffic is slowly beginning to translate to sales as 3 of our 12 current listings have gone under contract in the past few weeks.   I am confident that this trend will continue.   The media is beginning to report mixed messages which is an improvement over the    message, of not long ago,  that was consistently stating that the real estate market was doomed.   In the past few weeks, I’ve heard some continue that message along with fears of a recesssion.   However, I’ve also heard many say that we have hit bottom and that 2008 is expected to see a strong recovery.   I tend to agree with the latter, at least in Charlotte, given that our pending sales made an upturn in January and have continued on that path.   One article that I found truly amusing counters an argument that the Fed’s rate decreases are going to fuel a second housing bubble.   Here’s a link to that article by Lawrence Yun, Chief Economist of the National Assocation of Realtors.     My how quickly the media can change a their message.   You gotta love it!  

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