The Fed acted quickly yesterday with an emergency rate cut of 3/4 of a point, averting a near-crisis in the market led by previous foreign market losses. Wall Street is still showing volatility and investors are understandably skittish. The Fed should be commended, their quick actions will create some liquidity and could have a very positive effect on the housing market and in turn the entire economy.

Many buyers have simply been waiting on the sidelines, told not to involve themselves in the real estate market until the bottom is reached. Many of these potential homeowners have put their lives on hold due to the market situation, waiting for the right moment. Shelter is still one of the basic necessities of life and I believe that some of these potential homebuyers can only hold out for so long. I have noted a major increase in buyer activity to my website since Jan 1. and I have heard the same from other agents. Buyers are becoming curious again and beginning to search for information. If we can avoid a recession the housing market may be poised for a turnaround, beginning with lesser-affected areas such as Douglasville.

Homebuyers are in a great position right now, home inventories are at their highest ever, sellers are frustrated and ready to deal, and the 30-year fixed rate is hovering around 5.5% right now, one of the lowest rates in history. Consumers tend to follow the trends so let's hope someone starts a truly smart one, recapturing the American Dream. Call me today if you are ready to get off the fence and find a great Douglasville home for sale.