Some observations…

You’ll likely have noticed that I only had 15 posts in the past week. That must be a new low for me. It wasn’t ‘cuz I didn’t try… There’s just very little housing news out there being published.

That said, there are things that I’m seeing that run contrary to what the media has been saying for so many months now, and perhaps they just don’t want to admit that things are not quite as bad as they thought.

  • Open houses were absolutely slammed yesterday (March 26th), even at a listing for $3.5M
  • Mortgage interest rates were down for a second week in a row
  • Sales of existing homes were unexpectedly up in February
  • The Bay Area economy is doing just fine, with jobs increasing, rents going up and rental vacancies decreasing
  • I know the naysayers can dig around and find some negative news, too, but I’m just posing the question… Is it really that bad out there?

    Tomorrow brings Fed Chair Ben Bernanke’s first chance to change interest rates. There are opinions on both sides about how he’ll react to recent market activities… If he raises rates, will that really have any effect? He has said that even if they do raise rates, they’re likely only one or two increases away from leaving it alone for a while…

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