While there are a number of somewhat positive signs, there are an equal number of negative signs in the various markets. Some of the areas that have held up well have just recently seen declines in sales, while some of the hard hit areas are now seeing improved sales.

“The dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now.”

Statisticians already know statistics can mislead, but it’s easy for journalists and analysts and agents, buyers, and sellers to miss it.

We were seeing increased numbers of homes going under contract in our local offices, and the same increase in sales has been reported from around the state of Florida and now the National Association of Realtors is reporting that nationwide sales were up in February.

I’ve decided to add video tours to my arsenal, because I believe that it increases the likelihood that a buyer will consider one of my listings for a personal showing. We already know that listings with more photos get more interest… and some buyers want every possible bit of information about a property, particularly if they are home-shopping from a distance.

Buyer traffic seems to have picked up since Labor Day, with more showings in the past week than during the entire month of August for my own listings.

Comparison of a few sales in area neighborhoods this year and last year.

While individual home values have declined 20% the median home price has only declined 5% – buyers are getting more home for their money.

The peak season for home sellers and buyers in south Florida has come and gone. Was it a success? If you ask the sellers who sold, a resounding yes! But there were many more sellers left with unsold homes again.
Buyer traffic was up throughout February, March, and April as prices met more buyers’ decision point [...]

Low buyer traffic has been the number one issue since the start of summer here in South Florida. Whether buyers are being shy because of hurricanes, the uncertainty of future prices, or because they simply have too much to choose from, sellers are not happy.