I’m getting a sense that we may be at the bottom of the curve and a recovery to a normal market is at hand. Here’s why. The stock market has done well in the last few weeks, and some key indicators weren’t as bad as many expected. This is boosting consumer confidence. This week, a client who had decided to sit out the market for the last 5 months, called to start looking at homes in the $4m-$6m dollar range. They felt that prices were more reasonable and interest rates were about as low as they can get. I personally had numerous showings at a condo here in Malibu, and many of the top agents I’ve spoken with are all reporting a big increase in showings. Clients are still slow to write offers but they seem to be coming out and getting ready to strike at anything that seems like a good buy.
Watch the video below from San Francisco. Keep in mind that it is often California that leads the way in trends for the rest of the country.