On Friday, February 5, 2010, Windermere gathered over 2000 of their agents and brokers together at Benaroya Hall in downtown Seattle for the morning to refresh and renew us with the valuable tools we share with you…our knowledge. Matthew Gardner, a leading real estate economist spoke on the following I’d like to share:
- The recession is over!
- GDP (gross domestic product) is up 5%!
- Job losses have slowed from 10% to 9.75%
- Mortgage rates will go up this year-predicts from 5-6%
- Building permits have slowed from 30,000/yr to 4,000 for 2009
- The 1st half of the year (2010), pending home sales will be up by approx 28% and inventory will be down
Many of these predictions are fact and proving themselves out. Take building permits for example; when the new home supply dries up and demand still exists, prices will rise.
If you’ve been watching my Eastside Market Stats, you would see that pending sales are up and inventory is down, creating the balanced market between buyers and sellers.
So with over 2000 Windermere agents coming out to be better informed for their clients, who would you pick as your agent?