The Buyers Are Back!
Scott P. Rogers
Greetings, blog readers. My sporadic content creation of late has been a result of being busy working with buyers and sellers. I'll soon be releasing my monthly market report, but in the meantime, I thought I'd see if my own recent increase in sales activity was an indicator of a wider market trend.
Indeed, it seems that buyers are re-entering the market. We saw just as many buyers signing contracts in March 2010 as in March 2008, after a big dip in March 2009. (see below)
Then, looking at the first three months of each of the past several years, we see this same shift in buyer activity. (see below)
It will likely be at least a month before this translates into an increase in closings, but it almost certainly will given these large increases in buyers deciding to buy.
Of course, this could be related to the deadline of April 30th for buyers to commit to a property in order to be eligible for a tax credit.
Indeed, it seems that buyers are re-entering the market. We saw just as many buyers signing contracts in March 2010 as in March 2008, after a big dip in March 2009. (see below)
Then, looking at the first three months of each of the past several years, we see this same shift in buyer activity. (see below)
It will likely be at least a month before this translates into an increase in closings, but it almost certainly will given these large increases in buyers deciding to buy.
Of course, this could be related to the deadline of April 30th for buyers to commit to a property in order to be eligible for a tax credit.
