Sales Down – Prices Up – Real Estate Agents Nervous
The story continues to play out. Inventory is up, sales are down, and prices show a slight increase in most of the Bubble Markets. Not much of a surprise as the game of chicken continues between the potential buyers waiting to see if the media is correct and the housing prices will plummet. The sellers are holding out for the proper pricing of the homes. And the real estate agents are getting nervous as they are not moving any properties. Northern Jersey saw a 16.3 percent decrease in the volume of home sales and that is not making the agents happy going without commisions.
What should be interesting, and I have heard rumors of this happening out there, is that the Real Estate agents are blinking first. They are trying to consult with their sellers and begging for price decreases to get the transaction volume moving. The sellers for the most part are telling the agents that they are not going to panic and give away tens of thousands of dollars just so the agent can get a commission and pay their mortgage.
With the Fed keeping interest rates solid and buyers coming out of their panic rooms, the market may have a short term uptick.
So get out the popcorn and watch the show, it should be a fun one.
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
