Construction starts are at the lowest since 1997, yet builders confidence this month is at the highest point in almost a year.
Personal saving rates have been negative for the past two years, the only other time in history we ran negative personal savings rates for two consecutive years was during the depression, yet consumer spending is strong and so is consumer confidence.
Homes prices locally, at least ASKING prices are at an all time high at $209 per square foot for the average single family home in Mesquite.
Actual sales prices on the other hand for recently closed homes are continuing a downward trend, with the average new home price year to date down to $182 per square foot, from $194 during 2006, and existing home prices are down to $173 per square foot year to date from $185 in 2006.
Contradictions everywhere you look, all creating great opportunities for the hyped up spin misters to fleece the uniformed consumer.
The term “caveat emptor” applies today in the information age as well as it did any time in our history.
Trust is the key, facts not feelings or opinion. Each market, even each neighborhood has its own specific numbers, each has ebbs and flows. Many factors and variables influence each market.
Buyers in today’s market are in particular peril. Real market knowledge, not sales hype will help keep you from making a huge financial mistake in this very confusing time.
Mesquite GMAC Real Estate
Mesquite NV 89027