The unseasonably warm weather in December and early January has brought home buyers out of the woodwork. Home buyers were out in force at Open Houses the first two weekends in January. Buyers are also making appointments for further home viewing. The activity has continued even as the temperature dropped and the snow fell. Realtors in my Restaino & Associates office reported as many as 23 different parties coming through a recent Open House. Incredible! Sellers were also making contact with Realtors about listing their properties for sale. Perhaps consumers are feeling a little bit more confident.
A recent item in HousingWire, indicates that housing has stabilized over the past year. An improving job picture and prices stabilizing for non-distressed homes are all signs that point to a housing recovery taking shape, Barclays Capital analyst Stephen Kim told HousingWire. "In the absence of a government home buyer incentive, prices for non-distressed home sales have stabilized for almost a year," Kim said. "This is the most important trend in the housing industry right now, and we are amazed at how little attention it has been getting in the media and on the street. This stability on the part of non-distressed prices has occurred despite a very high share of distressed activity and continued declines in overall prices." The key to when the housing recovery will largely take off "depends primarily on when first-time buyers decide it is safe to buy a house," Kim told HousingWire. Source: HousingWire
Perhaps home buyers think now is a good time to purchase a house. Interest rates continue to hover at historic lows and there is housing inventory on the market. At least the Open House activity indicates buyers are are out looking at the possibilities!
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