Friday, August 19, 2011

The Sky Is Not Falling

When you take a brief look at the numbers for August of 2010 and August of 2011, the results can be reassuring:

Measure August 2010 August 2011

Dow Jones 10,213,62 11,405.93

S&P 500 1,071.69 1,192.76

NASDAQ 2,179.76 2,523.45

Unemployment 9.7% 9.2%

30 Yr Mortgage * 4.44% 4.32%

Median Home Price $182,900 $184,300

*June number from National Association of Realtors.

On an anecdotal basis, the Grove Team received five offers on different properties in various price ranges over the past weekend. That many offers is respectable in any market. Other agents we have spoken to also have reported similar levels of activity.

We can't allow ourselves to be a part of a gloomy outlook that becomes a self-fulfilling prophecy.

Thanks to Sandy Shetty at Benchmark Mortgage for assembling the data above.

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