What are real estate professionals saying to homebuyers and sellers about current market conditions? The successful brokers and sales associates are talking about the strengths that exist in the market - not the negative media hype. Below are positive angles that appeared recently in the media and underscore why it is a good time to buy real estate.
Recent Quotes about the Positive Signs in the Real Estate Market
Consumer Perception of Home Prices A joint poll released by the Los Angeles Times and Bloomberg shows that a third of Americans believe home prices will go up this year, about 50 percent believe prices will remain steady, and only 16 percent think prices will go down. Real Estate Intelligence Report, "Americans believe in housing, but not the economy." April 9, 2007.
Past Media on the Housing Industry "Too much of the reporting was not based on reality. The media predicted a bubble. I wonder how many will admit they were wrong." Richard A. Smith, Vice Chairman & President, Realogy Corporation, lore Magazine, "Today's change is evolutionary, not revolutionary," May/June 2007.
Economic Indicators "Unlike any time in history, all the economic indicators are positive for home buying. The stock market is at a record high. Government debt ratios are at a four-year low and unemployment also is near record lows." Builder David Hunihan, Charlotte Sun-Herald (Florida), "Realtors upbeat about home sales," May 6, 2007.
Excerpts about Real Estate Markets around the Country
The following excerpts are provided by Housing Predictor, provider of independent real estate market forecasts, May 9, 2007. These projections do not reflect the views of Realogy or its companies.
Albuquerque: "Albuquerque is now forecast to appreciate 9.1 percent on average in the Housing Predictor forecast in 2007 to lead the nation in home appreciation."
Utah: "The market is still flying high in Utah in some housing markets, while others have slowed. In Salt Lake City after staggering appreciation hit 19.9 percent in 2006, sales are off the record setting pace. But Salt Lake will still be strong enough to muster 8.6% in appreciation in 2007, according to Housing Predictor's forecast."
New Orleans: "Nonetheless, New Orleans real estate is appreciating, boosted by a housing market out of the ashes of a disaster. New Orleans is projected to appreciate 8.4 percent in 2007 on a median price of $152,000."
Biloxi, MS: "Biloxi now has one of the strongest appreciating real estate markets in the nation. Its median price has exploded to $204,000. Housing Predictor forecasts the market to be strong through the remainder of the year, netting forecast appreciation of 7.5 percent."
Maine: "Bar Harbor is once again attracting second-home buyers. Bar Harbor is continuing to see appreciation and may even experience more than 5.5 percent appreciation this year. Home prices vary widely in Bar Harbor depending on the proximity to the water. Portland, which is the state's largest city, is expected to appreciate by 3.1 percent for 2007."
Syracuse, NY: "In Syracuse, the market raced upward like there was no tomorrow to new record highs, seeing its median price rise to $105,000. Syracuse will still see more appreciation in 2007 up 5.3 percent."
Source: Housing Predictor, (Independent Real Estate Market Forecasts)
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