RISMEDIA, March 25, 2009-In a recent interview on the Real Estate Now Radio Show with Ric Giumenta of EXIT Realty First Choice, Tami Bonnell, president of the U.S. Organization of EXIT Realty Corp. International was optimistic about the real estate forecast:
“As president, part of my job is to pay attention to economic indicators, not just in the real estate industry but outside industries as well. I pay attention to economists across the country and other companies, but then I also go back and look at where the stats are for the National Association of Realtors®, which is the largest collected group of professionals representing the real estate industry.
There are some indicators with NAR® and with individual boards that we can follow too.
Starting with the economists, we’ve been tracking and staying in touch with them long before the markets shifted because real estate always goes through cycles. Everyone expects that overall, through the entire country, this economy will bottom out and start heading in an upward turn right around June or July.
Typically in a recession, real estate is “first in and first out” so they go into it before anybody else feels the heat and are feeling that pinch before any other industry does, but thankfully they come out of it sooner too.
So, when we look at national indicators, we see that right now, across the country, in most markets, there are fewer days-on-market for real estate transactions and there is less inventory in a number of markets. What this tells us is we’re starting to see a shift and there could not be a better time for purchasing real estate than when those shifts start to occur.
Listen to the entire interview here.
Tami Bonnell’s real estate career spans more than 25 years during which she was instrumental in building three major brands. Bonnell has been featured several times in major industry publications, including Real Estate Magazine, Bay State REALTOR and Frog Pond Communications.