As expected the clowns in Congress did effect the housing market at least slightly. After a fast a furious summer both locally here in the Willamette Valley Area of Oregon and nationally, sales were booming with many (or most) areas regaining most of their turn-down losses. As we edged closer to fall things began their normal slowdown but seem to me to be exacerbated by unwillingness by our Congress to simply govern the country without holding our entire economy hostage to try and win a war that had already been lost by them in any normal, legal way of proceeding.
My experience after over 30 years in this marketplace is that spring is the hot season, summer is good but being a college town (Corvallis) we get a little sleepy in the summer and then perk back up in the fall with the change in season. Things of course slow down more dramatically the closer we get to the holiday season.
Attached to this blog is a link to the monthly Remax National Housing Report. This excerpt from Margaret Kelly, CEO of Remax addresses the seasonal pattern:
“It’s normal for the housing market to slow down a bit after the peak summer season, but it’s really encouraging to see that both sales and prices remain significantly higher than this time last year. The strong performance we saw this summer and throughout 2013 confirms we’ve passed the early stages of a housing recovery and are now moving toward a sustainable marketplace.”
Margaret Kelly, CEO of RE/MAX, LLC.
Hope you are having a wonderful fall season!