Thursday, June 30, 2011

Five Trends To Watch

Please follow this link to an article written to encourage realtors that the market is changing.  If you read my blog, you know how I believe that trends will help us to map our way into the future.  This article points to 5 trends:
  1. Short-Term Pain
  2. Over Development
  3. Jobs
  4. Lifestyle
  5. Responsible Government
Attached is a bar graph showing the average dollars per square foot since 2000, including 2011 through June, and it suggests that we have fallen below 2003 levels.  According to the Short-Term Pain trend, we have overcorrected.  I think that will change moving forward, as 45% of this years sales have been financially distressed properties, and as of this writing, there are only 11 distressed properties available downtown.

The other 4 trends all bode well for Charlotte.  We have not had speculation development, nor have we had broadbased job erosion. 

Jobs in many varied sectors continue to be announced, almost on a weekly basis.  Rumors floating around about Sears looking to relocate their headquarters looks attractive, but it is remote.

The Carolina lifestyle is certainly preferrable to most northern tier cities, and finally, we have a pretty responsive and pro-business government in the city and state that promote growth. 

Follow the trends, and I will meet you in the future.

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