Improved February Sales

If you have been sitting and waiting since last year for a buyer’s market then now is the time to recognize you have the situation you were waiting for! As the numbers show for February, there are more people buying up investment and primary residence properties, but less listings are available.

In order to maintain the current buyer’s market, supply needs to start increasing, interest rates need to stay low and consumer confidence needs to remain low. Here is what I have seen happening since the beginning of February:

• There are more buyers in the market, meaning consumer confidence must be up somewhat
• Gas prices are slowing hedging up which means consumer reports and spending will be increasing which in turn means the inflation target will move closer to 2%
• If inflation rates hit the 2% target, interest rates will move upward
• In terms of supply, people are no longer turning real estate for a quick buck, instead they are holding on until the market officially starts its climb again.