Tuesday, April 03, 2007

Should I Stay or Should I Go...

I've been reading conflicting stories online about whether the market is improving or whether it's going down the toilet. I'm going to holler about how great it is!

Okay, first was an article on MSNBC.com that says this spring is the season for reckoning for the real estate market. It's the pivotal time on the market where we figure out if housing sales are going to be strong or weak because spring is typically when homes hit the market and start selling selling selling. The article talks about how some of the big boy dominoes in the lending industry are falling: from Lennar yesterday to Countrywide last week to New Century Financial Corp today. (I think if it wasn't so sad, the first from the Boston Herald today that says "Call it the March Madness of Mortgages" would be funny.)

Then we go to this headline from CNN.com: Stocks fueled by easing oil: Strong pending home sales report also supports Dow and S&P 500. Another article says that Pending home sales index in surprise rise!

This article says that homes set to close (or pending) are way up! I definitely want to hang my hat on this report for a while! From my personal experience, I can confirm the recent drought in home sales, but suddenly I'm getting extremely busy again. Let's all keep your local Realtor busy because it bodes well for the economy!

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