In the famous quote by Joseph P. Kennedy “When the going gets tough, the tough get going,” and to reiterate and expound in first voice as a Realtor® from excerpts in real estate opinion, reports and notes by Ron L. Phipps, NAR president; as a Realtor®, the going has been tough—and all Realtors® in the industry have been going, going and going! It definitely has been a long, cold and bitter economic winter in real estate which is affecting our own state of Utah and across the nation. The nation as a whole has seen some of the most challenging economic times that are facing each of us personally as Realtors® and as citizens of the world.
With the rivers running swiftly looking like they might overflow their banks, there is definitely a hint of spring in the air with the melt of winter’s snow. I know all of us are ready to welcome the promise of warmer days ahead and have it stay that way for awhile. So it is with the projection of Real Estate for 2011.
Here is an overview of what is happening in the market.
Pending home sales: In late January, we reported the fifth monthly gain in six months.
February: In February home sales dropped by 10%.
Home sales for 2011: 5.3 million sales are anticipated
Consumer confidence index. The Conference Board’s measure of consumer confidence dipped in December, but was up again in January to levels not seen since spring 2010.
These are all positive indicators of what is anticipated in home sales for the year of 2011. Beyond that, we have much to be thankful for. Home Ownership Matters!
References:
http://www.realtor.org/rmonews_and_commentary/Opinion/1101_notes_president
http://www.realtor.org/rmonews_and_commentary/opinion/1102_notes_president?presentationtemplate=rmo-design/pt_articlepage_v1_print&presentationtemplateid=1b18c0004a12c9a4b7e1ffbdd1ec736f
http://rismedia.com/2011-03-24/anticipating-a-spring-thaw/
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