May 21, 2009
It is really too early to come to any conclusions.
But in an attempt to answer the nearly daily question of… “Is anyone buying?”, here are some very preliminary indicators from the current local lakeshore market.
1) First of all, 2008 was the worst sales year of the previous 5 years.
2) To date this year, closed and pending sales have doubled from 2008.
3) In the last 5 years, anywhere from 10% to 30% of the total year sales were posted before the Memorial Day holiday.
4) Using the facts in #2 and #3 above, it would be reasonable to project that 2009 will, at least, be a better sales year than 2008, or, at most, be the best sales year since 2004.
I’m gonna call it. The bottom is in.