I ran around my office yesterday asking Realtors for predictions about the 2011 real estate market. Take a look at what they said:
My prediction is that prices will hold steady with a slight increase over the third and fourth quarter of last year. We will see similar number of sales to last year, but with a more gradual activity level in contrast to last year. Last year, much of the activity was lumped in the first half of the year because of the federal housing tax credit, then it really seemed to drop off. This year, I expect a gradual increase in activity leading into the warmer months, then gradually tapering off again toward the end of the year. I think we will see first time home buyers beginning to come back, but I don’t think it will still be enough to really help the economy and the market rebound in any serious way. I expect interest rates to stay in the five percent range.
Thanks to the stars of my video (in order of appearance): David Johnston, Judy Johnson, Becky Hopkins, Jan Aylward, Dan Sweeney, Scott Buckley, Tom Thornhill, Suellen Dice, Dan Sweeney, Nathan Steele.