Yes, I feel confident in saying we are moving in that direction. All market economies repeatedly (every several years or so) move through four stages of... (1) Expansion, (2) Peak, (3) Recession, and (4) Recovery. Historically the Real Estate Market has been one step or stage behind the US Stock Market which is currently in the Expansion stage with the Dow Jones Industrial Average breaking the 18000 mark recently. If history repeats Real Estate is very well positioned right now to enter a new stage of Expansion. Some may say we already have. The true "Seller's Market" occurs just before the Peak stage. However waiting for the Peak can be quite costly to a seller because of the inherent instability of the Peak stage whereby any negative economic occurrence can create the Recessionary period to begin, devaluing the property much more rapidly than the many years it took to peak.
Better Homes and Gardens Real Estate | Coccia Realty
424 Valley Brook Ave | Lyndhurst, NJ 07071