I just found the coolest map showing market conditions and it goes back to 2001 with it’s data. The map is interactive and shows us what the market has been through. You can press ‘play’ on the map and watch what happened in the last 15 years.
This report is written by folks at Nationwide Economics so it’s a bit more objective that some of the stuff I see for the National Association of Realtors 🙂
The cool thing about this to me is the interactive aspect of it but it also shows the local data. Not just a national number. That is important since real estate is ALWAYS a local story.
The great news in this report is that the housing market is the best it has ever been since 2001 in terms of stability and likely performance for the future. This data set of the Leading Index of Healthy Housing Markets (LIHHM) appears to be a leading indicator even during the run up (2005) to the crash (2007), this set of data predicted the down turn as a falling LIHHM. I love seeing something that shows how it can predict the past accurately if we know to look at it. It can give us some confidence that it might be able to do it again.
The good news for buyers is security in investing now and for sellers they can be sure to get the most of their properties in this low inventory market. If you want to know how your home’s value is trending just call me and we’ll get you on the calendar to meet up. This is a great time to list as inventory is still low and that means lower competition and more buyers.
Thanks for listening,
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