Real Estate Condo Sales Are on The Rise!
Could it be that there was just too much darn snow and cold weather around for people to shop for real estate?
Maybe there was just so much time spent preparing for the holidays, and then financially recovering from the holidays. Or, perhaps the constant pounding of the negative news--some justified, but much just total overkill--kept people on the sidelines.
Well, the Chicago Tribune reported in today's edition some very encouraging news about housing sales. Sales actually went up 2.9 percent recently. Read about it here.
Lest anyone think we are over-hyping a small triumph and calling an end to the troubled market, let's be perfectly clear. We've said it before and we'll say it again: the housing market is correcting. House and condo value gains in recent years have been enormous and unprecedented. Unfortunately, this pace of growth could not be sustained. Values are returning to earth. There is obvious pain in this. Buyers who purchased at our near the top of the boom are suffering and many other aspects of society have been impacted with the slowdown. But the market has weathered untold number of cycles in the past and, when viewed in the long run, remains a great way to invest.
