I personally don't believe all the hype the media continues to feed us. The majority of home sales are still cash sales which typically means investors. If you are in Real Estate Sales, then you are probably seeing a shrinking inventory as bank foreclosures are disappearing from the market and homes that have had a considerable amount of rehab / improvement are generating alot of activity. The upper end homes in every market are still selling well, however the starter home market appears to be really slow (unless it's priced below market and has a ton of features and amenities that the competition doesn't offer). The move-up / second home market is moving ok, but nothing stellar to report in that market segment as I see it.
New construction is a market all to itself it would appear. Most new construction is selling well, but I believe builders should be a bit more cautious than they seem to be. As a group, builders are an extremely optimistic bunch. They see the market as getting stronger almost daily. As someone who's been in the business since 1981, I would be a bit more cautious. I would build no spec homes, take larger amounts down before beginning and do whatever I could to ensure I don't get too many new home starts going at one time.
I believe we will see a bit more of an uptick, but then I see a bit of a lull in the market across the board, all price ranges and all markets, that will last for a few year. The Real Estate Agents that survive and thrive during this period of time will have to have been training, better skills and a laser like focus on the fundamentals to succeed.
Just my two cents. I'd really like to hear your thoughts...