If you had asked me a year ago if I thought we could sustain sales at such high levels throughout 1999, I would have been skeptical. But Malkasian believes the new millennium may also play a role.
People perceive the investment in their home as a less volatile safe haven for their money.
People seem willing to take some of the investment profits from the 1990 s and roll it into their home rather than reinvest it in the more risky stock market. The old adage better safe than sorry seems to be applicable in today s real estate market. Rock County recorded the same number of sales for the third quarter of both years. Statewide, the median price is just keeping pace with inflation, though however many areas around the state have seen somewhat larger increases for the third quarter 1999. Many areas just don t have enough homes for sale to keep up with the number of buyers.