By Maria Patterson
Taking a research-packed deep dive into the real estate recovery, Realogy Franchise Group President & CEO Alex Perriello kicked off RISMedia’s 2013 Real Estate CEO Exchange with a State of the Industry Address: “The Road to Recovery: How Far We’ve Come, What Has Changed, and What Lies Ahead.”
As Perriello explained to the audience of approximately 150 of the industry’s top brokers and visionaries, telling market indicators, from decreasing unemployment and fewer underwater homeowners, to rising home values and increasing consumer confidence, serve as important “tea leaves” for determining the path of the nascent real estate recovery.
“From a national level, I believe that we are in the second year of a long-term, sustainable recovery,” he said. “If you told me we’d be dealing with multiple offers and people over-bidding on properties, I never would’ve believed it. But this is demonstrating a tremendous amount of pent-up demand. If you look at the tea leaves long term, this demand will sustain the recovery.”
Taking place on September 17, the opening day of RISMedia’s invitation-only CEO Exchange held at New York City’s prestigious Yale Club, Perriello’s address took an in-depth look into the current state of the real estate recovery, analyzing where we’ve been, where we currently stand, and what it will take to succeed in the months ahead.