Consumer confidence and the increased market activity
With the increase of consumer confidence far exceeding predictions for last month, it’s another positive sign we feel we have hit the bottom regarding the financial and home declines. While the storm has some wind still in it with some adjustments still in need of attention, the articles and news releases have been nothing but encouraging in tone and predictions.
I have enclosed a terrific article I read recently in the Wall Street Journal that addressed second homes and the attraction they are becoming for both lifestyle enjoyment vs. having your money tied up in the market. I have always been a proponent of having the ability of physically enjoying something for value as opposed to having it on paper, but this does not diminish the awareness of balancing both. In addition, the recent release of pending home sales brought some positive reality to the activity in the housing market today
Our local market had a tough time the first half of the year for reasons we are all aware as did other regions of the country. Our corrections were minimal compared to most, but we still had our own corrections to deal with. Our market has really picked up in the last month, not only for curious lookers, but actual buyers. We have 43 properties pending to close at this time due to recent activity, and are confident this will continue into the fall.
These buyers understand the value of enjoyment and use as discussed in the article, and are anxious to start enjoying the lifestyle the outer cape offers.
If you, your friends, or co-workers are looking to buy or sell real estate here on Cape Cod, and are not working with a realtor, I would like to be that realtor to assist them with their search and gathering information