2016 Year-End Review of Real Estate Statistics
Statistics tell us the story of the past, to help us gain insight into the future. Graphs give us a perspective on how to see these statistics pictorially. The long ---100+ year trend of all the real estate cycles combined, is a movement onward and upward. More people, more houses, more sales, higher prices.
How much is a building worth in Rome today? A big pile of gold... The greater lesson from statistics is to see the market movements of the past, and acknowledge where today's cycle is now.
This video is showing that today's spot is a great spot, we're booming!
The boom will continue until the buyer pool begins to dwindle. When the buyer pool dwindles, there will be fewer and fewer "total deeds" and the foreclosure graph will show the tipping point of the weakening market. My guess is that the large pool of purchasers that lost their homes in the last bust cycle are geared up to purchase now, or soon from now. We should see the market get propelled from the re-entry of these buyers onward and upward!
Let me know what you think - comment below.