Industry News

No two real estate markets are the same

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The common theme during a state-of-the-market report by Coldwell Banker broker-owners on Tuesday is that there is no such thing as a common real estate market. A limited inventory, controls on new development, and a strong job market has kept the Seattle real estate market booming -- with home-price appreciation at about 12 percent in the Seattle area and even higher in outlying suburbs. Price appreciation is steady and slow in some Midwest and Southern markets, while prices reached a peak and have begun to retreat in the Hanover, N.H., region. Coldwell Banker broker-owners from across the country shared real estate statistics and trends that are unique to their metropolitan areas, and painted a picture of a national housing market that is more of a patchwork quilt than a solitary banner. Ned Redpath, of Coldwell Banker Redpath & Co., Realtors in Hanover, said, "Overall I anticipate an across-the-board decrease in real market value of 10 to 15 percent. This is very close to what h...