Friday, September 07, 2007

Housing Projections - Soul Projections

Housing Projections
The National Association of Realtors (NAR) indexes pending sales and follows seasonal patterns of sales and as such they report that pending sales of existing homes decreased at a seasonally adjusted annual rate of 12.2% to 89.9 in July from June's 102.4. Signed contracts for previously owned homes, was 16.1% below the level of July 2006. The NAR reports that the index shows existing-home sales are likely to decline in coming months as mortgage disruptions work through the housing market.

Here locally, St George Real Estate has mimicked what we hear on the national scene. One could also speculate, that even as the commercial sector is growing supporting a jobs growth economic base, that the illustrious influx of money like from: the baby-boomers, the second-home owners, and the California-like buyer who used to be able to get 'bank' on their home out there and come here to live in style, has been depleted by market conditions and has offset and curtailed any of the benefits that earlier 'leaked-out' fame may have brought us. The real benefit may be for the working class family that would like to continue to live, work AND purchase in St George Utah.

Soul Projections
How market conditions are, while shifty to perception, because it is harder to also get a loan now too, can be relative to whether you are the buyer or whether you are the seller. One should not always be duped by the luster and hype, when sales is merely the art of bringing out what is 'on the inside'. May we all 'shine' brighter- the congruence we 'would' make in the corollary.