Where Is Market Headed?
Why a question? Haven't I said the market has been improving every month for months on end(since mid 2012)? So why start here?
You only have to read Jim Belote's MMG Weekly update to understand. As has been reported for the past two months, February and March followed a January that fell off the December pace.
Though rising interest rates(Jim talks about the pressure on rates once again) had an impact, it really wasn't the big impact.
Just like retail and auto sales, it was the weather!
Yes, home sales can tank when it is more important to dig out the car for the 15th time or having to deal with house bond kids home for another day off school.
As one Lowe's ad boldly states, the snow was a great novelty for the first couple of snowfalls but then became a pain. And if you didn't live were there was much snow, it was bitter cold(yes, Michigan...28 degrees in bitter in Atlanta!). And both cold and snow made buyers and sellers like you think, "I will wait until in warms a bit". Fortunately the Lowe's ad goes on to say Spring temps are here!
As a result, you will get moving to make the move! And so will a thousand if not hundreds of thousands other people will get the move on.
April and May should turn the market upside down. Everybody will be wondering why the the market shoot up!!!