Friday, November 28, 2008
In my opinion our market has hit the Christmas slow down. So I have included a couple of articles for general intrest. Our city lot draw was this week and about 25% of the lots sold. That is a far cry from other years when everything sold. Our inventory has climbed on the resale side and I believe it will continue to do so. The pricing seams to be softening but I think we will be Spring 2009 before we can get a good reading on the market direction. My opinion is intrest rates still will come down but unemployment will continue to rise which should make for less expensive home construction costs on the labor imput cost side. I think we will see some great opportunities to buy and hold over the next few months but will we recoginize these opportunities, that will depend on our risk tolerance levels. I am looking forward to seeing where sales are this month compared to last year. I should have those numbers posted about the 8th of December.
Subscribe to:
Post Comments (Atom)

No comments:
Post a Comment