Real estate professionals optimistic about housing market
Posted on Wednesday, October 8, 2014 at 9:36:17 AM
If real estate professionals are correct in their assessment of their industry, homebuyers and sellers may be seeing improved conditions and more activity over the next few months.
According to the 2014 National Association of Realtors Profile of Real Estate Firms, these companies believe that future housing market growth is on the horizon, as well as increased profitability.
"Despite continued challenges, real estate firms expect market growth in tandem with the ongoing recovery," explained NAR president Steve Brown.
The survey results found that 66 percent of all firms polled expect profits to rise during the coming year. However, there are concerns with the market, including the millennial generation's buying habits, adapting to new technology and a lack of inventory.
Homebuyers also have strong opinions about the housing market. According to Credit Suisse survey of real estate agents, top client concerns include current home prices, with many buyers willing to wait it out until prices drop, HousingWire reported. Affordability and the potential for higher home prices in the future have many consumers worried about real estate.
Even so, optimism remains in the market, and there are still deals to be had for those interested in affordable residential financing and a new home.