For many people, this year has felt longer than others. Folks have just been counting the days till 2009 ends, largely because it has been the (or one of the) most trying they’ve seen personally and professionally – especially for those in the real estate business.

Times have been tough before, however. Consider the fallout of the Savings and Loan crisis: Between 1986 and 1991, the number of new homes constructed per year plunged from 1.8 million to 1 million, which was, at the time, the lowest rate since World War II. At present, we are in the midst of a similarly crushing circumstance, with new home starts at the end of 2008 dipping below 900,000. This year, 2009, was slightly better, though hardly. These really lean times feel especially terrible in contrast to the high times of the mid 2000′s, when we had upwards of 2 million starts per year. (Visit this link to learn more about home starts in the past and projections for 2009-2012 as made by U.S. Congress in 2008.) 

Even so, we survived the S&L crisis, and we’ll survive this, too. What goes up must come down, and what comes down will bounce up again… eventually. Furthermore, there are glints of hope. You have to look hard for some, others are more obvious, and still others fall somewhere in the middle. An example of some hope? One of my clients, The Plaza Lofts at Kierland Commons, ended the year with an uptick in sales. During the last six weeks of 2009, the community saw a mix of short sales, resales and new sales that moved nine lofts in six weeks, ending the year on a good note. (Note: Among the contracts and closings was the sale of a $2.225 million loft!)

And that’s where I’d like to close out the year insofar as my real estate blogging. Short, sweet and on a good note. Happy Holidays, Merry Christmas and may 2010 be one during which you’re able to find hope in any circumstance. ~ Amanda Fier