We are seeing a little bump up in sales. Why? Who knows.. But we have had a dip in the 5 year rates and then recently another run-up in the stock-market which seems to be highly correlated with the RE frenzy.
As stocks go up, people feel richer and more confident while others cash out of stock options and banks feel more macho about lending.
Anyway we have had a small blip up in the list/sale ratio over the last week or so, which has coincided perfectly with the stock run-up, lets see how far this has to run.
We are still seeing Governments around the world committed 100% to keeping rates so low, well below inflation, that savers get punished and speculators which are never-to-be-reigned-in saved.
For now it is a wait and see. This fall was very different from last fall. Listings kept coming and sales dwindled, we will have to see if this is a temporary set-back or whether we are off to the races again.
Watching China suggests things are not so hot. There stock market is down 22% from a year ago, though an agreement this week in Europe may change all that.
