Yesterday I had a Conversation with John Burns, CEO, John Burns Real Estate Consulting. We recorded the conversation so you could listen at your convenience and share with your clients.
John’s outlook is balanced with a definitive risk perspective. The economic outlook is not as robust as the DOW, NASDAQ and S&P are performing. John believes the entertainment industry impacting LA will be a slow recovery and that we will see more job losses in Northern California as small to midsize employers rationalize the expenses in their businesses to meet softer demand.
The current market seems to be excellent for sellers as the spring buyers are now active. John was not specific about how sustainable this demand will be through year-end. We have amazing mortgage rates and a current promise from the “Fed” to keep rates low.
Still to follow this year is the further opening of businesses, an election, and the caution associated with a SIP 2.0. It is possible the looming thought of 2.0 is driving demand for home upgrades. Clearly not sustainable demands.
Let sellers know to list homes sooner rather than later!
As you listen to the Conversation with John Burns, please remember real estate is a very local business and one size or one market does not fit all.
This is Where We Are Now.
Mark A McLaughlin