In RISMedia’s 28th Annual Power Broker Survey, brokers across the nation were asked to reflect on the overall pattern of the 2015 housing market with an eye toward the future, and the general response was a positive one. RISMedia found that 58 percent of respondents describe their confidence level in the post-recession housing market as “cautiously optimistic”.
Alexander Karavasilis, president and CEO of Maryland’s RE/MAX Advantage Realty, shares in that optimism.
“The real estate industry follows the cycles and reacts according to the law of supply and demand,” Karavasilis told RISMedia. “Absent any extraordinary events, inventory levels are stabilizing, interest rates remain at historical lows, and the desire for the American Dream is burning as bright as ever. If the regulatory body releases the overall chokehold on the industry and related industries, we will see increased activity and healthier markets.”
In addition to Power Broker’s optimism surrounding the housing market, 45 percent of respondents described their markets as “growing”. According to RISMedia, Power Brokers’ $1,123,494,913,023 in sales volume and 3,453,108 transactions in 2015 represents a more than $150 billion increase in sales volume over 2014, and nearly 250,000 more transactions—a clear indicator of low inventory driving prices higher.
Read RISMedia’s full Power Broker Survey here.