There are conflicting reports on the housing market today. According to news sources and public reocrds, the median sales price nationwide is down close to 16% from a year ago, to $174,100. Simultaneously, there are reports about existing home sales being up close to 4% from the last quarter. All the while, foreclosures are up 7% from the last quarter. But there is one fact about the housing market that arises out of all of these reports: Real Esate is Cyclical, Seasonal and Emotional.Cyclical Cycles: Run about 15 years in length with the current cycle beginning in late 2006.
Seasonal Changes: Occur every year and follow a fairly consistent pattern.
Emotional Changes: Fear of the unknown is the worst element of any financial market. That is what we’ve experienced for the past nine months.
Seasonal Changes: Occur every year and follow a fairly consistent pattern.
Emotional Changes: Fear of the unknown is the worst element of any financial market. That is what we’ve experienced for the past nine months.
For property data, real estate reports and market trends, CLICK HERE.
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