What Does the Future Hold in the Real Estate Market

By
Real Estate Agent with HomeStarr Realty RS143922A

 I attended a Zoom meeting featuring Lawrence Yun  is a Chief Economist and Senior Vice President of Research at the National Association of Realtors.

 

His predictions were that even if a vaccine for COVID19 were to be discovered most people would continue working at home. He also felt there would be a vaccine by the end of 2020 or early 2021.People have found it much more economic and productive to work from home especially with the ability to do Zoom meeting.  Perhaps just going into offices two maybe three days a week if that.

(see my post )

 

He also says this would be the best winter for Real Estate Sales. Although some people are out of work many people are still working. Many people are and I know I am one of them are not eating out . They are saving money  by eating at home. They are also not shopping as much therefore are saving money. The housing market is booming and will continue. In my area we are still seeing houses increasing in value by almost 10%.

 

home sales

 

Dr Lawrence Yun says pending sales are up 20% and says we will have the best Winter ever

 

 A great Zoom Meeting put together by the Bucks County Board of Realtors

 

We have the ability to do so much with the online tools we are given Zoom is just one of these amazing features we have. This year I was fortunate to be able to take all my continuing education classes online on Zoom in the comfort and safety of my home

 

What does the Future Hold in the Real Estate Market?

No one really knows but for now it does look bright

 

This post is part of the October Challenge -To Think is To Create

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Comments (61)

Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

Busines is really good in our area of TN.  Homes are extremely high in price here and most are appraising.  

Oct 12, 2020 09:27 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I do think it’ll bounce back next year sometime in March pretty hard. We shall see what happens, though.

Oct 12, 2020 09:42 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Rose Mary Justice It’s nice to get some good news like that about the markets another area of the country! Keep up the good work and be well!

Oct 12, 2020 09:43 PM
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

I agree, working from home is here to stay.  Too many benefits.  I also think we will see struggles in commercial properties, as businesses realize they need less staff for staff.

Oct 13, 2020 06:51 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Thanks for sharing !  Interesting prediction about strong winter sales--living in the midwest, we see a slow down mid Nov-mid Jan as pp celebrate the holidays,  kids on school break, winter vacations--need more inventory though to sell!

Oct 13, 2020 07:34 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Paula McDonald, Ph.D.  seems like I am hearing everyone is having a great year-good to hear 

Barbara Flannery I do love the Zoom meeting it saves so much time and travel 

Richard V. Foster, Esq.  I disagree

Endre Barath, Jr.  I remember him back then with his red hat and black hats 

 

Oct 13, 2020 10:23 AM
Endre Barath, Jr.

seem my comment on the Lyn Sims  thread

Oct 13, 2020 08:44 PM
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

At first, staying at home during the shut down felt like I was being punished for something I didn't do Hannah. Getting out and about is freeing and while some online events are okay but never want to lose touch with meeting with people in person. Our market is being inundated by people leaving bigger cities, wanting to purchase!

Oct 13, 2020 12:53 PM
Erik Hiss
Keller Williams Capital Partners Realty - Worthington, OH
You can trust me for all your real estate needs!

Great to know and encouraging. Thanks for the info!

Oct 14, 2020 05:47 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Endre Barath, Jr. I understand what you are saying and I will start saving my money just in case you are right 

Paul S. Henderson, REALTOR®, CRS  We really never do know exactly where the market where go do we 

Kimo Jarrett  I do believe the election will hold a big part of where the market will go. The economy in this administration has had a positive upswing for Real Estate 

Oct 14, 2020 09:30 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Richard V. Foster, Esq.  You may be right but you may be wrong 

Rose Mary Justice  The same here in most of the areas 

Laura Cerrano  I am seeing double 

Wanda Kubat-Nerdin - Wanda Can! I understand the feeling I was frightened and thought of it as a science fiction movie come to life . Now it is just a part of life and a way to be safe and a little more cautious on how we deal with the public .

 

Oct 14, 2020 09:37 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Shirley Coomer I agree with you as for the first time I went into a store there were not many people inside but more than I thought there would be. All the salespeople were very helpful but I do not think I will shop again 

Mary Hutchison, SRES, ABR  Time will tell - we are usually slow this time of year and we are still busy 

 

Oct 14, 2020 09:43 AM
David Alan Baker Laveen & South Phoenix Realtor
Keller Williams Realty Phoenix - Laveen, AZ
Your local Expert

On a whim, I decided to google Dr Yuns predictions, back in 2007 and 2008.  Funny enough, he seemed to be wrong.......which I did NOT expect.  

Check out this article in CNN https://money.cnn.com/2008/01/23/real_estate/merrill_forecast/?postversion=2008012317

Merill Lynch predicted a 15% drop in home values, and Lawrence said they were pessimistic and unprecedented.

I like reading the stuff (stat, and stuff by lawrence), but I also like to read others too.  I'm glad I checked this.......

Oct 14, 2020 10:46 AM
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Congrats on the feature, none of us have a crystal ball, and like weathermen, economists can make predictions and still stay employed when they get it wrong.

Oct 14, 2020 10:50 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

David Alan Baker Laveen & South Phoenix Realtor  One cannot be right all the time he was not wrong all the time or NAR would not have kept him employed 

Nick Vandekar, 610-203-4543 You are right we do not have a crystal ball let us see where the market will go and talk again .- Thank you 

Oct 14, 2020 12:01 PM
Deb McGuire CNE, ABR, SRS
Keller Williams Capital Partners - Columbus, OH

As long as inventory remains low as it is here in Central Ohio, I expect we'll continue to have strong demand and goodo appreciation.

Oct 14, 2020 01:27 PM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Hannah:

Glad to see this featured! There's some important information in your post...wonder if the predictions will be on target?

It will be interesting to see what happens during the last quarter and into the new year when we traditionally see a slowdown - my guess is there will still be some of that.

Jeff

Oct 14, 2020 05:48 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Hannah, so glad your post was featured, you did a GREAT job on this topic! 

Oct 15, 2020 08:18 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Q2 2021 is going to be the most interesting time to watch according to several economists.  Not doubting that December will be busy, but all real estate is local so we shall see! 

Oct 24, 2020 08:13 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Deb McGuire CNE, ABR, SRS Only time will tell I am sure we all hope so.

Hello Jeff Dowler, CRS looking good  Our market on the East Coast is still moving it is quickly in most areas -definitely  a seller's market 

Joan Cox Thank you so much I appreciate the comment 

 

Oct 24, 2020 11:39 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Jan Green  You are right all Real Estate is local -Cheers to a great 2012

Oct 24, 2020 11:41 AM

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