It happens occasionally – I am wrong once in a while. When I am, I am always happy to admit it! I hope I was wrong in my “doom and gloom” predictions of last week (too early to tell). That would be the best “wrong” ever!
After price reductions on a majority of my listings last week, I have seen a sharp increase in showings. I am also seeing an enormous upswing in my Internet based inquiries, five since Friday. It might be too soon to revise my predictions (I am still confident in their accuracy) but I am very happy to see more activity in the market.
Or, it could be that the price adjustments made were just the right medicine and the desire result of those adjustments is what I am seeing in the market activity.
Added Note: At an office meeting, the increase in activity was seen throughout our market, all were also in agreement it was “dead” prior to last Thursday or Friday. (3:42 pm Eastern)
How about your market? More activity?