March Cold Holds off Spring Selling Season

The weather in Jersey this week is miserable. It’s been colder for the past four days than any four consecutive days we had in January. I don’t know if it’s the cold, or the traffic on this board or the real estate market in general, but I’m sensing that the “busy” spring selling season is not materializing. I get the feeling, mainly from talking to friends that are interested in buying, and a few Realtors, that houses are so mis-priced to the high side that it is not even worth the trouble to attend an open house or scan the MLS system for deals. I think that many prospective buyers have decided that they are not going to spend this spring and summer fretting about finding a good deal and will wait until next fall, at the earliest, to start looking again. There does not seem to be any urgency to buying a house since there are so many available, and it seems like even the topic of real estate is a little stale.