It’s been a head-scratching year. That has a lot to do with my few posts. Along with other professionals, I hold the widely held view of the year being an indecisive one with mystifying starts and stalls. Its sluggish start will likely define its close.
There are positive and encouraging signs: dollar sales volume continues to increase and this now has multi-year track record. Limited inventories, while frustrating buyers choices, has had the overall effects of not only preserving values but helping to increase values in most price categories.
But there are lingering concerns. Stagnant wages in the American workforce have been hinted at being behind what is viewed as the most anemic recession recovery on record. The Federal Reserve has repeatedly highlighted it as a component in the delays of raising borrowing rates. Politicians are talking about it on the campaign trails. And the latest reports from National Association of Realtors are headlining it: What’s Behind the Drop in Sales Contracts?