KW Convention

Vision speech from Keller Williams Family Reunion Feb 12, 2012

Gary Keller and Jay Papasan

The numbers that drive real estate

  • Home sales
  • Home prices
  • Inventory
  • Mortgage rates
  • Affordability

Home sales activity has increased 1.7% in 2011 yet home prices in 2011 contracted again by 3.9%. The median sales price remain at the lowest level since 2003. Historical appreciation rate for long term is 4%

Is this a good time to buy? Depends. What is your purpose of buying?

Inventory as a country is at 8.3 months supply.

Mortgage rates continue to decrease with 30 year rate at 3.7%, which is the lowest in history! How much lower can it go?

1% in interest rate increase equals 10% drop in home price as far as house payment is concerned.

From 2007 to today, the price of construction has decreased 17%

Affordability of the housing market is the lowest in HISTORY! Homes are the most affordable in the United States than they have been since numbers have been recorded.

About these ads

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s