Probably most of you think that prices in real estate are dropping, with no end in sight. I would certainly think so as well, if I went by what I read in the national press. That's why I found it so interesting to look at our numbers for the region for the last quarter of 2011.
Prices in the New Haven area went up 0.7% for the last quarter of 2011 versus the last quarter of 2010, and the number of sales went up 2.8% for the same period. While that might not seem like much of a jump, it must be compared to the impression people have that prices are falling. It's not apples to apples--it measures the total sales against the total sales, not the same houses being transferred each year--but it's a good indicator that the bottom of the market may well have come and gone. When both prices and units rise, it's not too likely that one of the trends is an aberration. Prices may not jump, and there may be a few hiccups involving taxes and financing, but the fundamentals are there, and we should see some of the rewards this year.
If you are interested in seeing all the statistics yourself, please check our website at http://www.hpearce.com/.
Showing posts with label 2011. Show all posts
Showing posts with label 2011. Show all posts
Tuesday, January 17, 2012
Monday, January 9, 2012
It's Time for a New Year and a New Attitude
Much of what's been published about recent consumer trends and confidence is very encouraging. Even the real estate news is improving. Car sales went up at the end of 2011, and both online and retail holiday sales were very strong, compared to projections. Can there be any doubt that, in 2012, real estate sales will follow?
So now the question for prospective buyers is: Do you want to be ahead of or behind the curve? Once all the signs for improvement are in place, you know that it's only a matter of time before prices start to rise. You also know that, due to tightening mortgage requirements everywhere, and the hurricane and freak snowstorm locally, there is a lot of pent-up demand waiting to be satisfied. There are also a lot of folks on the sidelines, just holding off until they know that the economy is on the mend.
Given those variables, you can put your oar into the water first, and get the best price, or you can stand still until you see other people starting to move, and then try to beat them. It's your choice, but I think the correct answer is clear!
So now the question for prospective buyers is: Do you want to be ahead of or behind the curve? Once all the signs for improvement are in place, you know that it's only a matter of time before prices start to rise. You also know that, due to tightening mortgage requirements everywhere, and the hurricane and freak snowstorm locally, there is a lot of pent-up demand waiting to be satisfied. There are also a lot of folks on the sidelines, just holding off until they know that the economy is on the mend.
Given those variables, you can put your oar into the water first, and get the best price, or you can stand still until you see other people starting to move, and then try to beat them. It's your choice, but I think the correct answer is clear!
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