This week our listings saw an average of 2.6 showings each. This is a tremendous one week increase in traffic over recent months. However, it remains to be seen if the increase in traffic will translate to contracts.
One thing is for sure. There is one less piece of uncertainty leading to strong buyer fear in our current market. President-Elect Obama will be taking over the White House in January and for better or worse, the anticipation is over. I believe that step will remove at least one excuse for moving forward.
I won’t comment on what Obama will or won’t do for the economy or the real estate markets. However, there is sure to be a surge of action in some direction. NAR has recently begun to push for a second round of economic stimulus to help the housing market. NAR’s proposal includes four points that should provide more incentive for buyers to act. This proposal will be reviewed by congress this month.