If you understand anything about economy as a whole, one thing remains a fact. It’s all a bunch of cycles. Well real estate is no different.
I am happy to announce to you that it is that time again. The confidence of the market place is creeping back on us. All humans who pay money for shelter must now pay attention.
In this video, you will hear Lawrence Yun, NAR (National Association of Realtors) chief economist share some interesting data from May 2015 with respect to a suffering that stretched as far back as 2009.
There is a mentioning of how people’s income are only rising by 2% as compared to the increase need for supply in the market place. This is going to mean a lot but stay tuned for a full picture of what this would mean overtime.
I believe that this video will give you some perspective on the direction of the market and the possible opportunities. More importantly, how can you as a buyer, seller or real estate professional benefit from this?
Total existing-home sales1, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 5.1 percent to a seasonally adjusted annual rate of 5.35 million in May from an upwardly revised 5.09 million in April. Sales have now increased year-over-year for eight consecutive months and are 9.2 percent above a year ago (4.90 million).
Please watch this space for some interesting information in coming weeks and months.
Ola & Lawrence Abitogun