It’s Subtle
……like early robins and teeny shoots of green grass.
Ok, the positive indicators are anything but hearty but they are finally beginning to sprout. Just like the feeble signs of spring in your yard….
The report last Tuesday from the National Association of Realtors showed an increase in sales of existing homes that took everyone by surprise. It was the first increase since last July. It wasn’t expected. But it was welcome news.
Some of us are not completely surprised. For months, we’ve been suggesting that now is a good time — in fact the best time in recent history — to buy or build a home. Interest rates are down to historic lows. Money is readily available for borrowers with strong credit history. We’ve been busy planning homes for all sorts of savvy buyers.
It’s important to take note of these small meaningful changes. They are precursors of other changes, and will eventually lead to an up-tick in the interest rates plus increases in prices. Anyone sitting on the fence about building a new home in Maine would be wise to act before those adjustments are made.
It’s not unlike the change from winter to spring here in Maine. Outside my office a flock of robins is foraging for worms in a driving snowstorm. On a day like this, do you buy more rock salt or do you start thinking about getting your lawnmower serviced?
Spring, and a stronger housing market, is just a pendulum swing away. Are you going to be the early bird or are you going to wait until everything feels safe and secure only to find the worms are too pricey for your budget?
Paula Mahony
