As we approach the holiday season, I’m glad to be able to share this good news with you. With the best showing in the past two years, the U.S. economy grew 3.5% in the third quarter. Consumer spending on big-ticket goods rose at an annualized rate of 22.3% in the 3rd quarter as well. With the largest jump since 1986, spending on housing developments rose at an annualized pace of 23.4% nationwide!
The outlook is positive for Real Estate:
- According to the National Association of Realtors (NAR), sales activity is at the highest level in over two years.
- Existing home sales jumped 9.4 % by October.
- According to Lawrence Yun, Chief Economist, NAR, housing supply is the lowest it’s been in two and a half years.
On a local level, inventory is low and buyers are active. As buyers absorb the inventory, home prices are predicted to rise in the first and second quarters of 2010. I’m also seeing some multiple offers for properties that are well-priced. High end properties are still moving slowly. Now may be the time to act. Give me a call with any questions.
Enjoy your Holiday Season!
Posted By: 
Jeff Barnett
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