Is it a sign of the things to come? Is the tide turning for home sales?
This past weekend Piedmont Personal Builders participated in the Greensboro Parade of Homes. The custom built home we entered was in the Lake Jeanette Northern Shores area of Greensboro, NC. We had entered this same home in last Spring’s parade as well. The parade lasts two weekends. We averaged 15 people touring our home each day. That was a very low number compared to traffic in previous years. We attributed it to the general down turn in the economy and in particular, the housing slump.
This past weekend, we averaged forty per day. That is approaching numbers we saw in previous years. Typically, many of the people we spoke to were genuinely interested in building a new home. Of course we will see those looking for decorating ideas, curious neighbors and some just out to spend a pleasant fall day. This was a encouraging weekend for us and we hope next weekend will be even better
Reports show the American people have more consumer confidence. Interest rates on a thirty year fixed rate loan dropped to 4.75% at many lenders last week. Congress is considering extending the 8% tax credit and possibly to all buyers this time. All are signs pointing to an improving housing market.
So, is it a sign of the things to come? I think it just may be.