OfflineSeptember marked the third consecutive month with a drop in pending sales of homes in the U.S. This was reported this week by the National Association of Realtors (NAR).
NAR publishes a monthly Pending Home Sales Index, which was down by 4.6 percent in September, at 84.5. True to their trade organization goals, the announcement included the upbeat statement that 84.5 was still better than the 79.4 level posted in September of 2010. Lawrence Yun, the organization’s chief economist stated “A combination of weak consumer confidence and continuing tight lending criteria held back home buyers, even though the private sector added nearly two million net new jobs in the past 12 months.”
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It is understandably a fact that consumer spending has decrease and rightly so. However, concerning investment in real estate, this niche belongs to us to explore and make our American dream, a reality. Nothing should deter us from our goals. Who cares where the market goes. We need to make our own path. Thanks Dean for giving us the information to put our house in order. God Bless.
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
This is good news for investors and bad news for real estate agents. The play field is getting bigger.