Ken's Naperville Real Estate Blog : March 2009

"HEY KEN, I HEAR THE REAL ESTATE MARKET IS PICKING UP..."

I have had four or five friends say it to me in the last week...

"Hey Ken, I hear the real estate market is picking up."

Hmmmm.

I am not so sure.  I just haven't seen it...

Am I a Negative Ninny?  Perhaps.

But I do watch the real estate market here in Naperville very closely.  I have yet to see the turnaround...

Yes, I heard the news.  Home sales were up in February versus January.  But they were still way down year over year.  Prices were way down too.

Yes, I also know the stock market has rallied 1500 points in the last three weeks.  The market does seem to go up and down a lot...

But I know lots of people are still on the sidelines.  They want to move, but many would be movers simply cannot afford to move in today's market.

They need money for a down payment.  Where will it come from?

The down payment would traditionally come from the equity in their current homes.  That equity is gone for many people.

The real estate market is stuck in the mud.

Someday supply and demand will meet...

But that day is not today.  Hopefully, it will come soon.

But who knows?  Maybe I am just a Negative Ninny...

Ken

A Realtor you can trust.

Comment balloon 17 commentsKen Tracy • March 29 2009 11:10AM
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