Statistics
The problem with the statistics being given all the time is that they are still being influenced by a fantasy market which we experienced recently. That market was truly a mirage and it recently dissolved.
However, all statistics given for the real estate industry are comparisons of current and recent years. So while the numbers are ‘down’ they are only down from the inflated marks of recent years. The public has a short term memory so they forget that if you compare the years prior to the real estate ‘boom’ you would also see lower numbers compared to during the boom.
Perception
The perception surrounding the real estate industry is that the market is down. The main reason for that is because it is down…compared to the last 3-5 years anyway.
The problem is that people are only trying to compare it to the past few years instead of what they need to be comparing it to which is against markets from 10 years ago or as a completely different market. Doing that would show that the market is not nearly as ‘down’ as it is perceived to be.
Expectations
If people want to see the real estate market ‘rebound’ then they need to change their expectations. People keep waiting for the market to return to the recent ‘fantasy’ market we experienced but it isn’t going to do that.
In reality the market is doing okay. Homes are selling for what they are worth. If you are buying you are not going to get ripped off but you might not find great deals either. If you are selling you aren’t going to get rich selling your home but you can sell it if the price is right.
Now I am not saying the market is great but there are still buyers and sellers out there. Honestly the biggest problem with the current market is that sellers still think they can get more for their home than what it is worth. Once that problem is corrected I think we will see the real estate market really pick up.
Greg Manning is a real estate professional in the Harrisburg, PA metro area. Call or email today if you have any questions regarding real estate in the Harrisburg area. Whether buying or selling Greg can help you eliminate the stress and headaches that will surely come up.
Whether you are buying or selling check out Mechanicsburg Homes for more information on the Greater Harrisburg market and real estate in general. Are you looking for Mechanicsburg Homes for Sale?
