Today marks the beginning of a new segment on the Pall Spera Company Blog, Trendy Tuesdays. I will devote this segment to industry news, statistics, trends and other professional analysis from reputable sources: Real Estate Information Systems (RIS Media), The National Association of Realtors (NAHB) and Real Trends and The National Association of Home builders, to name a few.
Trends and commentary about the Real Estate industry are very much like bolts and screws at the hardware store. There is a shape and size for every possible application. Likewise, there is a different point of view for every situation depending on the expertise and vision of the speaker. However, observers recognize the telling signs of change.
In Real Estate News Today…
The NAHB International Builders’ Show took place in Orlando on January 12th. In an article published today, RIS Media reports that economists who took part in the event stated, “Housing will see gradual improvements in activity this year as the nation’s economy and job market continue to move to higher ground, establishing momentum that will produce more considerable gains in 2012”.
NAHB Chief Economist David Crowe is encouraged by an obvious increase in consumer confidence. This is evidenced in part by higher sales of automobiles and furniture, two commodities that are very closely linked to our living environment and, ultimately, our homes. Crowe further projects that, “New-home sales will struggle, but begin following employment gains.” Freddie Mac Chief Economist Frank Nothaft agrees, adding that, “housing affordability will help support growing housing demand.”
Trust and confidence in a healing market benefit buyers and sellers equally. While the latter may resume attempts to sell, put on hold in a less favorable economic environment, the former will enjoy a wider range of inventory to review.
Additionally, the demonstrated growing ability to purchase high price tag items such as automobiles and furniture suggests buyers may feel better equipped to support their dreams and sellers may have renewed confidence in the likelihood of securing a good offer.
Of course, it is never a direct cause and effect system. There will always be meanderings along the way, but even swerving paths lead to a destination. There is certainly a renewed appreciation for value and this shared appreciation is where we meet.
Read the full RIS Media article HERE.