Economic Trends and Real Estate

“As Realtors®, we have to understand economics. We have to follow what’s going on, because it will impact our industry tremendously,” says Melanie McLane, an appraiser, broker and educator with various designations and certifications.  

McLane will teach a session at this year’s Triple Play Realtor® Convention and Trade Expo called “Economics and Real Estate,” which will highlight the history of economic trends and housing in the United States to help prepare Realtors® for shifts in their local markets. 

“Historically, real estate has been the first into a recession and the first out,” she notes. “We’ve had a very unusual time since COVID, but I am beginning to see the market softening. If interest rates come down, it’ll help things, because it affects affordability. As an appraiser, I like to talk about how what most influences the value of your home is completely beyond your control.” 

During her session, McLane will talk about economic factors that impact the housing market, including market supply, interest rates, unemployment, consumer confidence, economic uncertainty, investors, the Federal Reserve, capital gain exemptions and more. 

As a former PAR District Vice President, former president of the West Branch Valley Association of Realtors® and PAR’s 2018 Realtor® of the Year, McLane is well-versed in economic trends specific to Pennsylvania and the mid-Atlantic region. 

“I’ll ask attendees what they’re seeing in our region and in their local areas,” she says, highlighting the engagement her session will offer and the opportunity attendees will have to learn more about current, region-specific trends.  

“The interesting thing in Pennsylvania is that for years, we’ve had retirees from New York and New Jersey move into the northeastern part of the state, because Pennsylvania doesn’t tax pensions, but New York and New Jersey do,” McLane adds, noting one particular trend she’s seen in the mid-Atlantic region. 

“If you’re in real estate, you have to pay attention to what’s going on in the economy on all levels, including national, regional and local,” she emphasizes. 

Learn more about economic trends and how they impact the housing market during McLane’s session at Triple Play on Thursday, Dec. 11, from 9 a.m. to noon. Register for Triple Play online.