Just Because it’s Anecdotal Doesn’t Mean It Isn’t True
Let's get this ship moving again
I’ve never been one to take much stock in anecdotal accounts of events. To many people have been convinced something is true because one person or family was effected in some way.
So take this with a grain of salt, even though it is me telling the story 
In the month of June we were working with two different sets of buyers. They were looking for very different types of property in different parts of Tucson.
The only thing they had in common was looking to buy property in Tucson.
On the same day they both called and decided to put their search on “Hold”.
You’ve Heard of Consumer Confidence?
The wrangling in Washington over the debt ceiling had a definite impact on the local economy as well as the economy of the nation. I find it interesting that the media and Washington have a disconnect over that debate and the slowing of the economy. Washington seems to by myopic beyond the beltway when it comes to the economy. I’m not expecting that to change any time soon.
As I write the DOW is down 289 points. Many thought it would bounce up after the deal was signed. So little they understand about how all this works. The damage was being done during the debate it was like not watering your plants for three weeks then dumping a bucket of water on them all at once and expecting everything to be fine. But it isn’t fine.
Search Traffic is WAY UP
While the markets are taking a bath these days it doesn’t seem to be having the same effect on those searching for homes.
Since the bill was signed on Tuesday, our search traffic here has picked up by over 30%. The pattern of traffic shows a marked slow down as the debate raged on. However, now the search seems to be back on.
Interest rates have dropped to an 8 month low in the past few days. Prices are pretty much at bottom in the housing market in Tucson. What is (as has been) lacking is the confidence by buyers to make this type of large purchase in this economy.
But our country is caught up in the rigging. No sail is set, no wind is being caught. We need to get the rigging moving, the sails set and the wind will move us along. (All if this coming from a guy that lives in the desert)
Third quarter is well underway. And a lot of people are Waiting to see what is going to happen.
I’m reminded of an old Roman saying, “When there’s no wind, ROW”
