Any members out there seeing/hearing anecdotal evidence of a market shift?
I've heard from two sources that building is picking up again around town. This morning, the Wall Street Journal reports that national statistics for June "home construction unexpectedly rose, after two straight months of decline, but a plunge in building permits indicated the upturn might be short-lived." Could the housing market get anymore confusing?
While the Flagstaff real estate market rarely tracks the market in other parts of the country, I'm willing to say that on one issue there is a correlation -- the real estate market is sending mixed signals. See my post earlier this week Prices Are Falling! (A Bit) (Maybe).
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Hi Ann,
I think our market is changing a little bit too, but it is very niche oriented. Some niches, together with lower priced properties, are increasing in price rapidly, but I think that properties over $1M are slowing down, and we have lots of them! It is primarily because there are now a lot on the market, but in lower price ranges we still have little to sell, so that is driving prices higher still. Sellers with higher priced homes are seeing the activity and pricing their homes more agressively than they should (my personal opinion, so we will see how it goes.)
Cheryl - sounds like your market is more active than ours!
I would agree with "mixed signals" In my little Colorado resort town it has been a mixed bag. Dead to a smokin hot march to a dead June? I think we are starting to see a few active pockets conect -the -dots.
Chris -- Connect-the-dots indeed. It's tough reading this market. Thanks for the comment!