7 Residential Real Estate Market Trends for 2007

7 Residential Real Estate Market Trends for 2007: How They Impact You and What to Do

The key market trends affecting the real estate market are changes in:

1. Advertising, marketing, and the media's assault on the consumer has lead to a change in consumer's expectations and tolerance levels. Real estate media
exposure led to increased consumer activity.

2. The amount of knowledge required for an agent to be perceived as an expert on all areas of real estate, and the diversity in the market, has lead to specialization.

3. The need for Realtors® to identify a specific target market otherwise their marketing will not be effective and they will waste a lot of money.

4. Developing teams that lead to high productivity.

5. Demographics and Geographics - A new generation comes into home buying age, and the baby boomers choose to move into warmer territory.

6. Technology and the Internet could change the entire industry.

7. A shift in the market from buyers and sellers, dilution of market by too many agents, higher interest rates result in more foreclosures, and the higher cost of housing resulting in higher debt level and affordability issues