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Real estate markets are very much like an ocean in that they are comprised of an infinite amount of variables creating many different “moods.” We’ve had a very strong “current” real estate market most of this year. That situation is easily recognizable and many participated in it to keep it flowing. While there is still a strong “flow” in the market, other factors are starting to stir it up a bit.
On the ocean there is a situation called a “confused sea” which is defined as a highly disturbed water surface without a single, well-defined direction of wave travel. In such situations the waves go in all directions creating confusion. There are times in real estate when we have such confused sea circumstances and it would appear as if we are close to entering such a time. What could cause such confusion in such a strong market one might ask?