Some Encouraging News:
We all know how a large percentage of buyers have decided to remain on the sidelines due to uncertainty in the economy. It's understandable that they are concerned if this is the time to buy a home, in many cases not knowing how much further they think the economy will fall, or if they'll remain among the fortunate employed. Well, there is another encouraging sign for those among you who've thought of selling, but held off worried that it isn't yet the 'right' time.
According to a survey just released by Relocation.com, more buyers and potential buyers were resuming the serious search for a new home, or preparing to do so. Those actually taking the plunge increased from 12% of potential mover/buyers in February, 2010 to 18% in June. That's a fifty percent jump in the number of those buying homes after a move to a new area.
There are similar increases in the same period of those who'd originally moved to a new area, but initially decided to rent due to economic fears, but have now begun the search to purchase in earnest.
Admittedly, analyzing those who change addresses because of a job transfer or a transfer to seek employment in a new area is only a segment of the overall market, but it usually is an important one in that once transferring buyers begin to buy in volume, it indicates the overall market is trending in a positive direction. Stay tuned.