The January Thaw in Sacramento County

Former FED Chairman Alan Greenspan recently went on record as saying something to the effect that he felt he was not much better at forecasting general market trends now than he was when he started in the business.

So if a respected economist like that lacks a crystal ball, the fact that a guy like is surprised should come as no surprise. 

The real estate market always surprises me.  My most recent revelation was that we've been paying far too much attention to the supply side of the equation, and we neglected one simple fact:  when supply increases, prices drop.  When prices drop, up goes demand!

As a result, in January we started to experience a huge influx of new buyers.  You can read more about Sacramento County's "January thaw" here.

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