The National Association of Realtors reports that existing home sales are down in March. The NAR and their chief economist, Lawrence Yun, suspects sales will stabilize within the next few months before a notable improvement in the second half of the year.  

This may be a comfort to those out pounding the pavement but finding potential buyers stuck behind the bushes. You are not alone, and this too shall pass. Still it is hardly news to anyone with half an eye on the economy. There are many factors at play in the rising and falling of home buying. One fact is always present, buyers are there, they are simply a little more or less mobile. Some people are afraid these days due to the ever present talk of foreclosures happening all across the country. Some may not be sure they will be able to sell the home they currently own. There have been some drastic variances in the way lenders in different areas of the country have approached the new laws. Perhaps a potential buyer was turned down for a loan recently and believes it is not possible. It could also be that some are skeptical of new lower rates, in line with what has happened with borrowers in the past five to ten years.

Talk upfront everyone you work with about what misgivings they may have. It may save a client from backing out after working hard, or even create a prospect where they themselves thought there was no potential.

 

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