There are dozens of articles published recently about the upcoming Real Estate down turn. These articles are new, but he story is old. The market is down prices are down 15% to 30% depending on sector.
It seems silly from where I am, actually being here in the market every moment of everyday it almost leads me to utter frustration. But then this weekend I noticed something, these articles now sever a purpose. I’ll explain.
This weekend I saw over 50 open house visitors at my hand full of current exclusive listings. This is up 3X from previous weeks. We also have seen 4 offers today, Monday, and I’m writing this article before lunch. I haven’t seen this activity in years, it’s amazing and subdues any building frustration J of mine. But in truth I may have these articles to thank for it. It’s not do to public belief in “Fake News” or buyers trying to reject the press in general. What I think is that buyers are reading these articles and now finally believing that prices are way down and the market is now if your buying. These articles also have made their way to active sellers and they are listening. According to Streeteasy there now has been more price drops in the city than any time since 2010.
This may be a short lived Bull rush in what will be a continuing dismal market. But whatever you want to call it, it’s here and some of these stories may be to thank for it.!!!