As almost everybody might have noticed, the election is past events even if there are some recounting efforts and other stuff, the election itself is nothing a Real Estate sales person should comment in any way, especially when he is coming from another country. But what might be of interest for everyone and what can be observed by such a Sales Person is whether or not, and if so, how this election (or maybe its result) has effected the local Real Estate Market.
If we on this behalf take a brief look at the November Market Statistics from NABOR these are the headlines:
- Pending Sales are down 11% overall 12-months ending 11/2016
- Closed Sales are down 13% overall 12-months ending 11/2016
- Median Closed Price is up 4% overall 12-months ending 11/2016
- Inventory has increased 40% overall 12-months ending 11/2016
- Average DOM is up 14% overall 12-months ending 11/2016
Does that mean we have a decreasing market even if everyone told us that after the election is over the market will start up again? I do not think so. I think we have to look closer to what these numbers mean and how they are to explain:
First of all, the election was in November so it cannot yet have influenced the current numbers. And second, even for December it might be difficult to measure the market data in relation to the election.
In conclusion, I hold we all should wait to see what time brings and have a closer look in the second quarter of 2017. I will do so and keep all of you in touch through this blog.