While the nation’s housing market has bounced back from the depths of the recession, the nascent recovery has been slow and sporadic in many parts of the country, including here in the Bay Area. The question on everyone’s mind is, “When will the market return to normal?” No one knows for sure when that will happen (the definition of “normal” is rather subjective – it seems today’s market is the “new normal”), but there are a number of signs out there that we should be watching for – economic indicators that will point to a more robust recovery in the market.
On a macro-economic level, consumer confidence and unemployment levels are crucial, along with overall economic growth figures such as the nation’s GDP. Buyers won’t take the chance on purchasing a home if they’re out of work, or concerned they may be before long. If they don’t have confidence that things will be getting better, they’re not likely to move forward with a major purchase. Continue reading “Real Estate Weekly Market Watch”