Bill Barbin, Real Estate Pro in North Conway, NH

Is today's economy the "new normal" or do you expect things to get even better?

Asked by Bill Barbin, North Conway, NH Thu Mar 21, 2013

We see real estate sales reaching a historic "normal" for the past 20 years (and I hope more people "get in" before we see real appreciation again) but I am wondering what the pulse of the other realtors and consumers is in this economy.

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Inventory seems to be low by us, causing homes to list and sell quickly. However, home prices are still low and non-distressed sellers have to compete with foreclosed and short-sale prices.
0 votes Thank Flag Link Tue Apr 9, 2013
Don't agree / this is the new normal ... The economy will struggle for 5-10 yrs to come . House values continue to plum it primarily because the listing price is not close to actual worth / prices reduce by the wk until sold that my friends is the new real estate market
0 votes Thank Flag Link Tue Apr 9, 2013
My guess--and that's all it is--is:

The economy will improve some more, and so generally will real estate.

However, there are some structural shifts that have occurred in the economy. There have also been structural shifts in real estate, plus you have the periodic demographic shifts.

So: Some moderate improvement over the next few years. But within real estate, you're likely to see some areas of real strength and other areas of substantial weakness.

Add into that mix geographic shifts and patterns. Some areas (perhaps Detroit, for instance) just aren't going to come back to the way they were. Other areas (some in the Southeast, for example) will have above-average growth.

Hope that helps.
0 votes Thank Flag Link Thu Mar 21, 2013
Don Tepper, Real Estate Pro in Burke, VA
Not sure where you are, but we are no where near normal over here yet.
0 votes Thank Flag Link Thu Mar 21, 2013
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