Recently EVERY ONE of the buyers I am working with are asking me, what is the state of the market ? So there are some pat answers. It is a great time to buy . Prices are good inventory is very good and interest rates are good. This is what I have been telling buyers. I also tell them that they see the national numbers on the news but regionally things may vary greatly. Buyers still tell me they are scared to buy. After the most recent news that showed purchases better than this time last year and prices still down I have changed my explanation.
I tell them the 5 states where prices are going lower make up 25 % of the housing market. This really influences the number. Then I tell the buyer that we are in a period I like to call the mental lag period. That is the period where perception and reality are not in sync. The perception is the market is bad. But the reality is the market is improving. And when perception and reality get back into sync prices will go up and the best time to buy will be past you. Everybody seems to understand this and it works well.
As always thank you for your comments and thoughts