Everyone loves a close game, right! The ratings and reviews on this past weekend’s Conference Championships in the NFL were a great example. Both went to overtime. Saints fans say the refs love a competitive game a little too much a refused to call a blatant pass interference foul and helmet to helmet illegal hit foul that kept a game competitive that would have been “all but over” if the call was made. But I digress.
Many real estate industry experts have been making gloomy predictions of market corrections (“MCs”). After the crash of 2008, just the talk of MCs can cause physical symptoms in industry professionals, and worse – – hesitation in potential buyers. The “C” in MCs needs to change from a Correction to “Confidence” for the markets to flourish.
Well, it’s not exactly Market Confidence, but the experts at Re/Max feel the Correction will only be a “balancing”!!! In recent months, the inventories of unsold properties have been going up, but so have the prices. Now it appears that prices are plateauing and if the employment numbers stay strong, demand will be steady as well. So while flippers, investors, and rehabbers who are financially able to WAIT, have been waiting for the pricing plateau and may soon get active again, for the rest of us just looking for a place to live or a good investment, it is worth taking a look again now. No one knows whether the plateau will last long or might even precede a dip. And the real kicker is this . . . the trends are somewhat localized rather than the same across the nation.
Check on the article cited above to see if any markets you are interested in are strong areas for getting a bargain as a buyer. If you are a seller, consider that Spring will bring out many new listings to compete with, so consider listing now.