More mixed data to digest today… some good news on the unemployment front and consumer sentiment, more bad news on new home and existing home sales. I’m feeling a bit like I’ll feel tomorrow at about 5:30: overwhelmed, overstuffed but confident there’s room for just one more piece of pumpkin pie…
The housing news is disappointing, but not entirely unexpected, even though the economists were surprised. It’s an up and down recovery in housing, plain and simple. I expect this trend to continue at least into the spring of 2011. Spring is traditionally the buying season and there is usually a better selection of property and better appreciation for sellers as more buyers prefer to purchase heading into summer. Even then, I expect a somewhat muted improvement. However, I do believe things are actually improving out there and I expect as the economy gains traction, housing will once again be the little engine that could, and for this I am thankful. Now about that 2nd slice of pie…
The Real Estate Conversation 