Bergen County Homes under contract at the end of February hold and diverge the low. It broke out of a diagonal triangle decline which ended in December of 2008 and put in a higher low in December 2009. With a higher sales volume peak of pending home sales in mid 2009 over 2008, there should be a strong move this spring. Somewhat hampered by the weather in January and February, the later spring should see good action. The Graph below shows the market action. Note the declining diagonal triangle along with the breakouts. The pace must pick up now.
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Data source NJMLS deemed reliable not guaranteed.
We are seeing a very slow pace of sales in Atlanta, I am kind of hoping there will be a pickup soon, but we are into March, and the buyers chould be biting soon.
Jim: Our weather here has been bad, a lot of snow this winter. I think it is holding us back. Although as you see our under contracts are holding a bit, it is not great. I really am hoping for better. There are a lot of buyers, but many are still looking for the deal of a life time.
Richard
I hope the disappearance of snow and spring spurs activity for you Richard! Has it been rough building with the weather challenges of the winter time?