Based on statistics released today by the Greater Capital Association of REALTORS® (GCAR) the residential real estate market in New York’s Capital Region continues to sputter as buyers hesitate to take action. The result is a market which continues to be slow and under perform. The report is based upon data collected by the Capital Region Multiple Listing Service, Inc. a regional service owned by GCAR and the Saratoga Schenectady Schoharie Association of REALTORS®, Inc.
Paul Semanek (348-7100 Ext. 502), GCAR president says, “Not much has changed in the first quarter of 2011. Housing sales are slow and the market needs that piece of good economic news which will cause people who are sitting and waiting to turn instead into buyers.” He adds; “While the market is slow our members tell us they feel that there is a change for the better in the foreseeable future. Open house traffic is good, there are plenty of web leads, and personal referrals are strong. The market just has that feel that it is on the brink of picking up steam.”
James Ader (464-0191 Ext. 16), GCAR’s chief executive officer says, “There is no reason for this market not to be much more active than it is. We have low interest rates, a large inventory of homes, and pent up buyer demand. This is a wonderful time to be a home buyer.”
“We would suggest to buyers that trying to time the market is as often as not unproductive. Take a look at the social and economic benefits of purchasing real estate and talk to your REALTOR® about taking advantage of the best market buyers have seen in many years,” says Mr. Semanek. “Low interest rates and an attractive inventory of homes for sale make this a wonderful time to purchase. We think you’ll be surprised what your housing dollars can purchase.”