Hi Friends,

What do a bleeding head and our current housing market have in common, you ask? Let me tell you a little story.

Our son Benson, then a third grader (about seven years old) had a friend over to play with his set of junior golf clubs — the metal kind.

As Benson attempted to teach the other boy how to swing, the boy insisted, “I know how to do it.” and swung as hard as he could. The heavy club connected with Benson’s forehead, walloping it with such force that Brooklyn, Benson’s older sister who was doing the dishes inside the house, heard the smack! She ran to help.

Benson, who was still in a state of shock, insisted he was fine, that it didn’t even hurt. Then he saw his reflection in the glass of the back door. He had his hand on his forehead as an incredible amount of blood ran between his fingers and down his arm. He freaked out and started crying.

Brooklyn ran inside while calling out to me, “Mom! Benson! Blood! A lot of blood!” I hurried outside, and aghast at the sight of my profusely bleeding son, somehow forced myself not to give in to sheer panic. I managed to speak calmly as I took my little boy — leaving a disconcerting trail of blood I would later have to clean up — into the bathroom where, heart nearly beating out of my chest, I gently tended to the wound.

Soon, the image in the mirror wasn’t nearly as frightening. All of us could see that the old adage was true. “Cuts on the head always look worse than they actually are.” We didn’t need to race to the ER. He didn’t need stitches. He would be fine. Phew! (BTW, the club-wielding little boy felt so bad he handed Benson a note of apology at school the next day. He’s a good boy.)

So, what does this story have in common with the housing market? Recently, I read a report by a man whose research I trust. Dr. Lawrence Yun, the National Association of Realtors’ chief economist puts it this way: The recovery has not taken place, but the housing recession is over.

So, no, we are not fully recovered, but the housing recession really is over, and with time, things are going to be just fine. A slower market is not a bad market.

As with head cuts, the “bleeding” nearly always looks worse than the reality. In August, median prices in Spokane were nearly the same as they were one year ago (down only .4%). Average “days on market” is still historically very low at only 12 days!

Of course, as we head into fall/winter, “days on market” will go up and prices will go down slightly. But let me repeat– This. Is. Normal! And I’m happy to report there is absolutely no reason to rush to the ER.

As always, our team would love to answer any of your questions.

On a different note, our Fall Appreciation Party is coming up! So, Save the Date- Thursday, October 26. We would love to spend some time with you. There will be food and drinks! Watch your email for details.