Showing posts with label september home sales. Show all posts
Showing posts with label september home sales. Show all posts

Friday, October 23, 2009

Slowly but surely!

Many economists are already referencing some early indications of price stabilization. (Even though we're off 8.5% over last year's median price.) Sales of existing homes reported up 9.2% for September! This means that at some price, EVERYTHING WILL SELL! We would rather see this continued absorption of home supply than to worry about short-term losses in home values. It's what I've been saying all along -- even if you are "losing" money by selling right now, chances are you are "making" money on whatever you are buying! We do need a steady supply of qualified buyers to continue to bring these neighborhood inventories down and return us to a period of normal, steady price growth. This will serve to further calm all those unbridled consumer fears -- and that will revive the broader economy! See how it all works together?!?! Hang in there, Atlanta. Slowly but surely, we will recover.