Market Edge Economic Data Update
Posted by David Zadareky on Friday, March 18th, 2011 at 12:27pm.Wondering which way the economy is headed? So are the professionals! After reviewing the latest set of economic indicators we're wondering which way the market is likely to go.
It seems that every time you turn around there is some new international calamity, from the protests in the Middle East, to the price of oil, to Japan's nuclear issues; but the reality is that life will go on. And since life will go on, we need to find shelter.
Enter the housing market.
We're looking at some interesting data pointing to renewed supply vs demand imbalance. Days on market are creeping up for houses listed for sale. That's ok as that's what happens each season in the early spring. The real question is where are the buyers going to come from.
Seems like everyone you meet know in the DC Region is keenly aware of the budget battle ragging in Congress. Who will win and who will lose. No matter which way the battle goes, there will be change a' coming to the DC area.
That's got buyers moving VERY cautiously.
Note to sellers - you've only got one shot at a first impression. Make sure you price is attractive and your condition is superb. We only see two kinds of houses selling well this year; 1. Perfect Condition and 2. Bottom Price. The houses in the middle will struggle to find a taker.
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