Real Estate 2006 June 1st, 2006
2006 banner year for real estate The real estate industry will be in hot in 2006, producing its second best year on record, predicts RE/MAX Chairman Dave Liniger.
“What’s happened is the economy has been fueled by the real estate market, which has shown continued strength,” Liniger said, predicting a great year for real estate executives.
In 2005, existing homes sales were up 4.2 percent over 2004 figures, with $7.02 million sales reported by the National Association of Realtors.
As well, real estate executives reported median home prices rose from $185,200 in 2004 to $208,700 in 2005, a trend expected to continue in 2006.
While the National Association of Realtors reported a 5.7 decrease in sales in December 2005 with similar declines in November, Liniger says real estate executives will turn that decline into a springboard for 2006 growth.
“I don’t think the last two months are anything worse than a normal cycle of the real estate business. November and December declines were a normal reaction to fluctuating interest rates,” he said. “I think we are going to see an outstanding year for the real estate business.”Among Liniger’s other predictions for 2006:
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