High consumer optimism toward housing market stands to benefit Realtors®

According to the Fannie Mae February 2015 Housing Survey, consumer optimism towards the housing market and the economy has reached a new all-time survey high.

And Realtors® should be able to benefit from that.

Abby Shemesh, of Amerinote Xchange, predicts larger cities in the state, like Philadelphia, Pittsburgh and Harrisburg, along with their surrounding areas, will see the most boost in sales this year.

“The simple fact is that you have good market conditions for mortgages and changes in rates, you will see an uptick in sales. In addition to that, the economic landscape as far as median income is on the rise as well,” he said.

He believes that an increase sale in homes will have a positive impact on the economy overall.

“When you have increased sales for homes, you will see an increase in services that surround home industry, like contractors, landscaping, home inspections, pest control fixtures and so on. There is a chain reaction that can occur there that will affect the housing industry and all supporting industries. It won’t happen in every market, but definitely in larger metro areas and surrounding areas,” said Shemesh.

Shemesh also believes renters will begin purchasing in higher numbers because it is “easier” to purchase a home than it has been in the past few years.

“The banking industry is changing the way they are doing business, and it will affect how mortages are acquired, which will spill into rental market,” he said. “Rents are very high right now, so more people will be looking to purchase.”

Obviously, Realtors® can stand to benefit from increased sales, and Shemesh advised Realtors® to stay as visible as possible.

“Make your presence known, and find new and better ways to market yourself,” he said. “Markets are different from county to county,” he said, citing Philadelphia County and Bucks County are close geographically, but different demographically. 

“To really find your niche, you need to know who you are targeting, and go for it,” he said.