Our walls remain strong, while others tumble around us

So, I sit here, wondering what will happen to my home, my bank account, my stock portfolio. I wonder if we will recover what we have lost in just a few weeks. For some, it has been everything, and it saddens me to think of people having to start all over again. I know we have to think 'long term', my financial planner reminds me of that every month on my statements that I read through the envelope, but it is hard to remain optimistic when you see the economy falling apart around you. I think about what I paid for my house just 2 years ago, and what it is worth today, and how much I still owe on it. Curiosity is killing me.

But, then I look at the statistics for the housing market around me. I am encouraged by the numbers...they are strong. And they are climbing every week, although at a slower pace. My weekly market update blogs show consistent sales, and strong average prices. Granted, they aren't as impressive as just a few years ago, but considering what we are watching domino from coast to coast, I am somewhat relieved to learn the stats.

Sussex County, Delaware home sales total 2,263 for the year thus far (as of October 6), with an average list price of $379,277, and an average sales price of $325,293. This time last year those numbers were 2,784 homes sold with an average list price of $384,631 and $366,103 for average sales price, and for 2005 they were 3,842 homes sold with an average list price of $385,352, and $375,603 for average sales price.

Yes, the market is slowing down, but it could be alot worse. And it would be almost unrealistic to compare today's market with the market 3 years ago when we were experiencing an incredible housing boom. We knew, even at the time, that we would never be able to keep up with the pace set for those few years, and since it was such an incredible market, we are feeling the effects of a slowing market even more so today. It will pick back up again, maybe not at the same pace and level as 3 years ago, but, as history shows, real estate always turns out to be the best financial investment a person can make. Tough it out...hang in there...BREATH.

I have confidence that we will get through this; we will bounce back and prosper. We always have.