Lately I’ve been hearing a lot of guarded optimism about the continuation of this real estate roll we’re on. Homeowners are positive about the market, looking at the current situation and what’s still visible in the rear view mirror.
But the burning question they want to ask is, "How’s it looking for the rest of the year?" "How is the fall market looking?" These question are often asked as the homeowner or neighbor gazes down as if seeking wisdom or a magic answer from an oracle, peering over glasses perched precariously on the bridge of their noses. It’s the fear of the slippery slope creeping in as temperatures start to dial down in anticipation of bare trees, lots of leaves to rake, and not enough apple cider. Too many homeowners have been down the road of broken promises, however badly they want to believe that the housing market will hang on and not lose too much momentum. They hope that the heat will prevail over the chilly months ahead.
Well, if recent history is any indication, figures gleaned from Agent Metrics from Q2 2010 through Q2 2013 for Evanston home sales suggest there will be a dip in sales but nothing drastic. The sky shouldn’t fall; in fact, it should basically stay right where it is. While we’ve seen tremendous gains in several areas over this 3-year period, it’s reassuring also to note that home sales during the third quarter did not drop off very much over the past few years from Q2 to Q3. these annual drop-offs from Q2 to Q3 were as follows: 9 percent in 2010, 9.4% in 2011, and 8,8% in 2012. I am curious to see how the 3rd quarter sales figures will stack up in 2013. Instead of waiting for the sky to fall, Chicken Little, it’s time to by a new luxury coop with a 2-car garage!
