Market cooling down?
The main headline on the Drudge Report for much of today has been “The Big Cool Down”, regarding the recent trends in the real estate market. According to this article supplied by Reuters, Existing home sales lowest since January 2004“, the sales of existing homes fell 4.1 percent in the month of July, and the supply of unsold homes was the highest it has been in over 13 years. Some say this is a sign that the bubble is bursting. Others remark that this is merely the market transitioning. In the higher-priced markets, some buyers just simply had tired of the overheated prices and decided to wait it out on the sidelines. Once prices adjust accordingly, many speculate, that the buyers will come back.
What steps are you taking to stay ahead of this “cooling” trend? Over the next few weeks, the BVAS Connection will go over ways to help improve your marketing power and keep you from getting caught up in that slow market rut.
