It's too early to know which way the 2001 market is headed, Englehardt said. Low interest rates and talk of tax cuts point to a strong market. Layoffs and talk of recession point to a weaker market, he noted. The real concern now is consumer confidence, which has been down. But if interest rates stay low, and our new president and government can re-establish the good feelings that people had about the economy, things should go nicely.
Inventory is a big question.
From 1997 to '99, we sold a boatload of homes. A lot of people moved, and now we've reached the point where people don't want to move again. That's the very situation that pushes up prices. This could be the perfect time, if you're a potential seller, to get into the market. That is, if you have a place to go.