01
Feb
11

High Hopes for 2011

Optimism arrives in heavy doses in the real estate industry and never more predictably than at the beginning of a new year. 

But, this time, there really might be reason to cheer, according to analysts.  Following the historic downturn, the housing market has clawed its way back to a point of near stability, with the pace of new foreclosures easing, sales moving toward historically normal levels and prices on a national basis gaining modestly, said Lawrence Yun, National association of Realtors’ chief economist.

The broader economy is also showing positive signs, with businesses enjoying strong profits, sitting on huge cash reserves, and even adding jobs.  Consumer confidence and spending also up.  Yun predicts this positive trend will continue through 2011, with existing home sales reaching 5.5 million units, prices rising a modest one percent, and the U.S. gross domestic product increasing about 2.5 percent. 

Thank you Old Republic for bringing us more good news I love it!  Let’s make 2011 a year to remember!

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Jennifer Ferri, Owner

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