4/22/10:Â The trend is slightly improving here in Belvedere. There are 2 more homes on the market than there was 30 days ago AND 2% more of the homes on the market are incontract.
There are two schools of thought regarding which end of the real estate market leads the area out of weakness. On the one hand– the ultra high end of the market is represented by the ultra successful which have proven their hand in the market place. Some people believe that this market segment leads the area of weakness.
I however, believe that generally the lower end of the market leads the area– that liquidity in the lower end enables home owners to trade up as their incomes and families increase; that this demand trickles its way upmarket until it reaches the higher end. This is what is happening now– as the liquidity in the lower market segments over the last 4+ monthsÂ is just now reaching upmarket.
To a certain extent both are true depending on the economic circustances (job market) and what is happening with the stock & capital markets.
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