What happened to the real estate market?
Friday, June 18th, 2010
Phoebe is also wondering, where are all the showings?
Here we are in June a little over a month since the tax credit has expired and many of you are asking what has happened to the real estate market? First the tax credit did increase sales at record numbers, with many homes going in multiple offers. Then May 1st came around and bam the market stopped and throughout May pending sales took a nose dive. It is now the May tax credit hangover, but just like a greasy burger, orange juice and time work for a human hangover the same holds true for the market. Time will work it’s magic and we will get back to some normalcy in the market place. Yes showings were down in May, but come June 1st they started to rise again. To see all the statistics for May check out the monthly report from MAAR.
Also check out the monthly skinny report for June and the weekly market report.