“Last week we wrote that we were surprised that the stock market had fared so
well in the face of the sequestration impasse the government did not seem to be
able to resolve. Sometimes the stock market can be a good bellwether of news
that is coming. Sometimes not so much. In this case, the employment report capped
a two week period of surprisingly good news. Instead of companies shaking in
fear of government cutbacks, they added almost a quarter of a million jobs in
February, bringing the unemployment rate to 7.7%. This was the lowest level
since 2008. The good news is emanating from the housing industry and the rise
in construction jobs was a significant factor in the strong employment report.”
FINALLY the general public senses that our economy is recovering and the housing market is much better than it has been. What is so important from Franklin American’s newsletter is the point that the housing sector was responsible in a big way for the good numbers. Housing has always been one of the main engines of growth that pull our American economy along. The housing recovery began over a year ago and is really gaining steam. This is not recent news, but people are just now beginning to be BELIEVERS. Why do I always have to be right?? I told my clients late in 2011 and early in 2012 that we were in the bottom of the pricing trough and please, please do yourself a favor and buy now with insanely low interest rates and unfairly depressed list prices. Some were smarty-pants and got some great deals. Others wanted to wait until it was so apparent the deepest discounts were behind them. Oh well, I guess you’ll have to pay more today. How much more in the Charlotte MSA? An average of 5% more based on MLS statistics December 2012 YOY.
IT IS NOW TIME FOR SELLERS TO JOIN THE PARTY. Jump in, the water is warm (historically super low interest rates with plenty of better quality buyers now) and pricing is still in a slow ascent upward so you can still get great pricing on your next purchase. It is March 2013. Don’t wait – call me and let’s talk about making your next move.