Listings, or the inventory of properties to be sold, are down by about 30 to 40 percent. But just because of the low listings, we are getting people to consider other properties. There are things to sell out there, he said, although the changing market means agents will have to work harder. He is cautious about these times and fears the market mirrors the late '80s. Now values are just as high and we're beginning to see some speculation now.
Speculation always comes at the end of the market.
Other agents point out the differences between now and then. Interest rates are low, banks are not dabbling in questionable loans, hundred-home subdivisions have disappeared. As long as the stock market remains strong and the economy continues to boom, people will have those few extra dollars for vacation homes on the ever-popular Cape. I don't want to go through 1989, '90, '91 again. We have metamorphosed into a more stable business.