Wall Street Rally - What Does This Mean For You

To think that the numbers on Wall Street have

nothing to do with our economy is just plain wrong.  When the stock market is doing well, it goes hand in hand psychologically with people’s confidence in the economy.  While I don’t think that Wall Street should be the only barometer on how we run our lives, I do believe that the numbers reflect what is happening in the marketplace.  If the investors show confidence, it spills over to the consumer.  Don’t get me wrong we’re still way below the crazy high of 13,000, but at least we’re holding firm with the normal up and down movement that is the stock market.

While the real estate market is showing signs of leveling off, there are still parts of the country that are hurting bad.  Keep in mind that you cannot judge every market by the national news media.  Remember, tragedy sells and therefore it is much better for ratings if they project doom and gloom.  Be sure that you are getting an accurate read on your own market and not listening to the “averages” across the country.   Averages can be dragged down by one low number and in the converse brought up by one high….keeping everything in perspective is important.

It is also important to have a realtor who knows what’s going on in the world.  Knowledge is power and you want an advocate that is able to decipher the information and give you the very best information available at any given time.  

The Phoenix real estate market is going strong.  We continue to see movement in number of homes listed (it continues to decline) and homes that are in escrow (this remains high).  That along with consumer confidence picking up can only mean a win win for us all!