Are Agents Recovering? Top 6 Trends That Say 'Yes'

by Chicago Agent

RE/MAX agents are feeling the recovery, according to a new survey from the company.

RE/MAX  surveyed 1,022 of its residential experts in its quarterly RE/MAX Market Insights, and it found numerous signs of a market recovery in real estate, from pricing data to sales activity.

Here’s what we thought were six important takeaways from the survey:

  1. Of those surveyed, four out of five said home values will not fall any more, and nearly 70 percent said prices will rise by the end of 2012.
  2. Eighty percent of agents said demand for lower-priced properties was either good or very good. Demand was not as strong for higher-priced homes nationally, but Jim Merrion, the regional director of RE/MAX Northern Illinois, said he’s seen a “much healthier upper-end surge” in his region in 2012.
  3. Roughly one in every three buyers, the survey found, are first-time buyers, with another third being down-sizers or move-uppers and the last third investors.
  4. The biggest challenges first-time buyers currently face are adequate credit scores, down payment requirements and a falling inventory of homes, the latter point one we have extensively covered.
  5. Buyer priorities remained consistent – quality schools, the condition of the home and the property’s size were all top priority, while public transportation, walkability and energy efficiency were the lowest.
  6. One in five buyers pays cash, with an average discount of 15 percent on the home.
So though we may not be out of the woods just yet, there are some signs of a recovery in real estate. What do you think?

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