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Real Estate Rates the Market – What Does This Mean to Buyers and Sellers?

By NPMGAdmin

by Rebecca Chandler

English: Symbol "thumbs up", great

In April 2013, The Real Estate Book asked a group of real estate professionals across the U.S. about trends they see in their local markets.   Here’s some of what we heard.

While listing inventory was down, many said that sales activity and prices were up.   For sellers, this is very positive news.  For buyers, this means they should consider buying sooner versus later when prices may have climbed even more.

Real estate professionals see these trends continuing through 2013.  When rating their overall outlook for the 2013 market, on a scale of 0-5, with 5 being “excellent,” respondents presented an average of 3.65.  I’d call that a B+.  Here are some of the details of our survey.

Which of the following are the biggest challenges for your personal business today? (choose all that apply)

  • 54% – Low listing inventory
  • 37% – Lending restrictions
  • 22% – Fewer buyers

Which of the following have increased in your market in 2013? (choose all that apply)

  • 59% – Sales activity
  • 43% – Sales prices
  • 33% – First time home buyer activity
  • 29% – Activity in the upper price ranges
  • 20% – Investor activity
  • 13% – Listing inventory

How do you rate your outlook on the market in 2013?

  • 14% – Excellent
  • 50% – Good
  • 24% – Average
  • 12% – Poor
  • 0% – Very Poor

While real estate is a very locally impacted industry and all markets are unique, overall sentiment is positive.

Contact a local real estate professional in your area for local details.

 

 

Survey conducted by NewPoint Media Group in April 2013 – 123 respondents.

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