Many of my blogs are written for the consumer in mind. So if some of what I report from the National Association of Realtors seems redundant for any Realtors® who read my blogs, then I profusely apologize for any inconvenience.
Lawrence Yun, NAR chief economist, reports that May 2010 closings nationally (single-family, townhomes, condominiums and co-ops) are 19.2 percent above the 4.75 million-unit level in May 2009.
To me, this is solid news about steady sales though there are obviously some residual sales from the homeowner tax credit that expired on April 30th. Although the tax credit provided increased consumer confidence, and thus, sales spiked upward during the first quarter of 2010, there have been some concerns about continued housing projections throughout the rest of this year. Yun said he expected to see another month of elevated home sales, but has not made any further projections.
Personally, to follow all of the prognosticators about our economic markets is absolutely nerve-racking and unrealistic. It feels like walking a tightrope on a double dose of Prozac, though I haven’t attempted either.
Over the last two weeks, ever since I returned from Laguna-Nigel, it’s been unseasonably slower, though I’ve personally sold nearly 7.5 million in closed transactions so far this year (not bragging, just giving an idea about local sales numbers). Nonetheless, over the weekend, my phone has rung off the hook, giving the impression that all is well in the Colorado Springs Real Estatemarket.
Not too fast, as a Colorado Springs Realtor, I know it is best not to follow my emotions in this market. From what I can tell, we’ll probably see a few months of surging sales, followed by a few months of slumping times, and the undulating (back and forth) trends will probably continue to repeat.I recommend remaining steady on the course to maintain sustainability in this rolling market.
Feel free to contact our Colorado Springs Realtorsat Selley Group Real Estate, LLC:
2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101
Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.