The market is shifting again. You'll read about it in the papers several months from now when all the current sales close, and the data is publicly available, but the shift is happening right now.Buyers are buying.
Yes, the economy is still bad, and the job market is still suffering. Nevertheless, apartments are really moving again. Great properties under a million are actually becoming scarce. Every apartment that we've listed in the past month or so has had hundreds of web hits per day, and we're getting offers right from the start. On the flip side, we're struggling with inventory for our buyers because the best apartments are moving quickly.
The market is still a bit slower for larger apartments, but they're starting to move as well.
Fortunately for buyers, prices aren't rising dramatically (yet).
In previous posts, I've described how the media helps fuel the fire; exaggerating trends positively in "up" markets, and negatively in "down" markets. If the past is any indication, once the media gets wind of increasing sales activity, there will be tales of bidding wars and buyer frenzy again.
Now is the time to buy if you want to be in front of the herd.
Reach me at: michael.sussilleaux@gmail.com
Posts
