At Inman’s CEO Connect event, three experts weighed in on the past and current state of the housing market and how several intersecting variables show us what’s potentially to come. The predictions from David Mericle, senior U.S. economist at Goldman Sachs; Jonathan Smoke, chief economist at realtor.com; and Allan Weiss, CEO of Weiss Analytics, featured a mixed bag of optimism and caution. 1. Housing will continue to be one of the strongest sectors of the U.S. economy Mericle said that although some recent data has been slightly disappointing (likely due to a seasonal dip), the big picture still looks good. "There are lot of upsides in housing, more so than any other sector of the economy," he added. Meanwhile, housing affordability and job creation are improving the lives of many, including those millennials who are jumping into homebuying particularly in the Midwest and South. However, there are certain markets in the country where it remains difficult from a finan...
- Overall, the housing sphere is faring better than other market sectors.
- Signs show that the slight dip in sales during the winter months will take a turn for the better soon -- and perhaps even exceed last year's numbers.
- Interest rates, first-time homebuyer hesitancy and the long-term effects of a tough job market could lead to more volatility, though affordability is not an issue everywhere.
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