Out on a Limb

March will be a busy month. I look for inventory levels to increase dramatically but I also expect to see the number of contracts written jump as well. Inventory will go up as sellers try and time their move to the end of school. Relocating buyers will start to enter the market and some already have. They tend to come here on a house hunting trip, look at everything on the market, pick a house, write an offer, negotiate and complete the inspection all in a 5-7 day time frame. Once the sold signs start popping up we will see those who have been watching suddenly go under contract. In addition relo buyers jump start the move up market as well. Rising gas prices and the new problems over seas have shaken consumer confidence just a bit but I expect that confidence to come back once you start seeing the old signs. I expect the number of new listings entering the market in March to be 50% higher than Jan & Feb. I believe our pricing will continue to climb slowly this spring and then level out during late summer and fall at worst. Buyers that have been in or watching the market for the last year or so will be disappointed if they expect to find the same prices this year that they passed on last year. Our market has moved in a positive direction already and when the smoke clears I am hoping that the number of contracts written in March will also increase by 40-50% as well maybe more depending upon the depth of the pent up demand. To see numbers comparable to last year's stimulus fueled spring would not surprise me at all. Rates should remain relatively stable and as long as there are no more surprises on the horizon we are poised for another year with continued improvement. As our market continues to unfold, I will as usual keep you informed.