As we have discussed, one the important factors to follow in the housing market is consumer confidence. The more confident the consumer, the more likely there will be increased demand in the housing market.
The Conference Board, an industry group, said its index of consumer confidence dropped to 44.5 in August 2011 from 59.2 the month before. This is the lowest level in two years.
With consumers being more cautious, we would expect the housing market to show an increased level of softness. Indications are the buyer's market will continue into the near-term, in our opinion. The recent economic data, along with a deterioration in consumer confidence seems to point to sequential price reductions in the housing market, in our view. However, we do not anticipate large drops as was the case during the beginning the of "bubble" deflating.
We think this means those seeking to sell their homes need to price attractively and market aggressively. Qualified buyers should remain in the "driver's seat" for the foreseeable future.
If you are thinking of selling or buying a home, or require more information, please text me or call me at 561-247-3550. Please text or call to give me your name, telephone number and e-mail address for the ability to access home searches.
Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-247-3550
Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment