The Market is Hot

Good Morning: According to Lawrence Yun, Chief Economist for the National Association of Realtors, the first half of 2012 is the best half year we have seen in five years.  Although credit standards are still too strict, in Yun's opinion, there are plenty of buyers that are swooping in and taking advantage of the prime opportunity to buy while both interest rates and home prices are still low.  Yun notes that that there has been an uptick in investor purchases, citing that 53% of Realtors own at least one investment property.   Where is the greatest opportunity for Realtors in the coming six months?  Well, Lawrence Yun notes that it is a great time to be a Realtor because while there is an uptick in home sales, Realtor membership continues to decline, suggesting that there is more pie for agents, and less agents going after the same piece.  Yun says that the greatest opportunity in the coming months will come from the increased cost of rental housing which will cause more people to consider purchasing.  As well, there is a pent up demand for home ownership caused by the three million immigrants that come to the United States each year.  In the past few years, the immigration traffic has not created the usual one million household formations which suggests that many coming to this country have taken up residence with family until the housing market improves.  Such is the case with many college students who, for the past five years, have elected to move back home rather than seek out their own households.  CLICK HERE to read more about the Chief Economists take on the market.  As well, you can download the RE/MAX National Housing Report HERE.  It's refreshing to hear the housing reports lately.  I hope you can use this information to share with prospects and maybe convince a buyer or two to step off the fence and into the wonderful world of home ownership.  Keep up the great work.  I enjoy watching your success.