Well 2010 is coming to an end and as we prepare for what lies ahead lets give our prognostication for the real estate market. If it is anything like our local weather predictions it will show opposite outcome for what has been forecast. It is like watching the old tonight show with Jonny Carson as Carnac, its all in the envelope.
Like you, I have been reading and listening to all of the latest data that has been belted out by media and “expert” statistical keepers. So far none of the information is of any foundation. Everyone can clearly see that the homes that have been sold to date have clearly taken the inventory down, but, there are no real trends.
Maybe what the “Expert” home sale people need to do is just take the whole year of 2011 from start to end and then come up with a “trend”. Forecasting the market viability gets you all kinds of responses depending upon who is asked. It is like our Idaho weather where the meteorologists have been less than 50% so goes the real estate market.
What we do know is the house market and real estate industry as a whole is working its way though the wild ups and downs. There are no trends that can be sustained for long and what is said today will not be the same tomorrow. Happy New Year!
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