Current Situation…and the CRYSTAL BALL for the future

A week ago we were talking in our office about demand. We have been watching ‘pending’ home sales decline and decline. This is typical during this time of year. Generally 1rst quarter after 4th quarter is where it bottoms out. So we thought, when was the last time home sales have been this low? We can’t find data that goes back that far. We speculated it must be as far back as the 1980′s. It also seems like the demand should be there to buy homes, but where are the buyers? We speculated as well that the demand is there and that it would arise soon. Im not an economist (Im a salesperson, I sell real estate not analyze numbers, we are diffrent breeds) and I dont have the data they do, so I looked