Gary's Blog

Saturday, July 11, 2009

Pent-up Housing Demand Continues to Build

A recent nationwide poll shows about half of potential homebuyers are skittish about making the move, their number one concern is job stability. released the survey on Thursday, showing 53% of the people who would be buying a home in the near future, are not quite ready yet.

This is quite an optimistic report for those of us who are active in the market, for two reasons:
1. If we are still alive (!), we can see the pent-up demand is building, and it is just a matter of time before all "heck breaks loose"
2. Because the number of sales are down, there is an incredible number of bargains to be had out there right now. The inventory provides excellent choices, unlike the '05 rally, where buyers took whatever came up, just to get into the screaming market.

Among those who are planning to buy in the near future, they don't expect prices to drop further, and they want to take advantage of the government incentives while they are here. These incentives are over effective 12/1/09.

If you would like to see the whole article, just shoot me an e-mail titled "skittish buyers", and I'll shoot it right back to you.

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