Industry News

Realtors give readings on local markets

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Editor's note: No one knows the local real estate market better than Realtors. In this two-part series, Inman News sought out local insights on what's happening on the ground and what agents think is in store for 2007. (Read Part 2.) Terry MurphyExecutive Vice PresidentWest Contra Costa Association of RealtorsRichmond, Calif. How is your market? "It's moving. The market is different than it was last year. It's probably going to be the third- or fourth-best market we've ever had. (Inventory) is increasing to the point where buyers have the chance to buy their first choice."  What do you anticipate the market will be like next year? "I think it's going to be a good market. There will be balanced buyers and sellers." What's the biggest issue facing the industry next year? "We'll find out when Congress reconvenes." Do you plan to invest in new technology in 2007? "We have to use the Internet. Fully two-thirds of our market requires it -- that's their expectation. (We are planning t...