First…the ACTUAL facts related to the current state of housing…
- JPMorgan to lay off a total of 17,000 mortgage bankers by the end of 2014
- Prices were up 11.7% in the first nine months of 2013, but fell 0.3% in the fourth quarter. And, the latest housing news has been bad.January existing-home sales fell to an 18-month low. And home construction in January recorded the biggest month-over-month drop in seven years.
- “Our early data shows national quarterly price gains are falling at a rapid pace and suggest overall prices could dip into negative territory soon if current conditions continue,”
NEXT: Here is a sample of recent ‘upbeat’ housing related headlines:
- March comes in like a lion and goes out like a lamb. As March comes in this year, the housing sector continues to roar ahead with good news, while other sectors are struggling.
- NAR says the housing market will continue to experience a growth in home sales, provided the job market continues to improve.
As a seller or buyer, it’s difficult to know what to believe. Are prices rising? Is inventory low? Should you sell now or wait? Should you buy now or wait?
Here, in Palm Beach County, it looks like the market peaked in August, 2013 after a bottom in early 2011. An additional signal is the inventory levels have risen about 25% from the beginning of September 2013. Where is our local market headed this year? I think I know what the indicators are and where they are pointing.
My business has been built upon giving highly personalized advice based upon my client specific needs and goals. No one answer is right for all sellers or all buyers. And you can’t rely on the media to give you all of the ‘unbiased’ data and analysis required for you to make an educated decision.
If you are thinking about making a move, selling or buying, we should see what is the best thing for you to do, now. My direct line is 561.602.1258
Thanks for reading….Steve Jackson
