I opened up The Mercury News this morning to huge headlines...HOME SALES DIVE TO LOW. Of course, the smaller print reads "Prices increase 4.6% in Valley, fall elsewhere in the Bay Area," but the damage is done. They go on to explain that our median price rose slightly because cheaper homes are selling less than more expensive ones, skewering the statistics. A further explanation would be the lack of inventory that we in the business have seen in our "Oasis" and the multiple offers that still continue on a regular basis. Reports of extremely busy open houses were the norm at our office meeting this week.
But no, the doom and gloom theme of the article continues with hints that consumers are losing confidence in the market and the economy, and the theme is extended by the stock market news in the business section...Fear Reigns on Wall Street.
Oh well, I think it's time for this Realtor put down the newspaper, pack up and head for a dance weekend in King City. Nothing like a change of pace and a fresh outlook!
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