DENVER, Jan. 8, 2018 /PRNewswire/ -- Today, RE/MAX Co-CEO
Adam Contos offered his perspective
on what's ahead for the 2018 U.S. real estate market including a
continued shortage of the number of homes for sale which, in part,
led to more home sales and increasing home prices last year.
"Turn up the volume on new home building," urged Contos, citing
housing starts that are down 2.9% year-over-year and well below the
historic 50-year average. "We'd love nothing more than to see the
next generation of homebuyers start building equity now."
Despite the shortage and any further tightening of inventories,
Contos sees an abundance of positive trends too as the overall
economy continues to strengthen fueled by wage growth and
increasing consumer confidence.
A few things to watch out for according to Contos are any
reoccurrences of the devastating hurricanes and fires of 2017, any
negative impacts to the U.S. stock market and side effects of the
tax bill that passed at the end of last year.
"We'll certainly see our share of challenges in 2018," said
Contos. "But with the challenges will come ecstatic home buyers and
sellers, new and booming communities (one boasting the new Amazon
headquarters) and fresh innovations in real estate that we never
saw coming."
To see Contos' full 2018 outlook, click here.
RE/MAX, LLC, based in Denver,
CO, also issues housing data monthly via the RE/MAX National
Housing Report which compiles data from 54 U.S. metro markets to
shows trends.
To view the monthly RE/MAX National Housing Report, visit
https://www.remax.com/newsroom/national-housing-report/
About the RE/MAX Network
RE/MAX was founded in 1973 by
Dave and Gail Liniger, with an
innovative, entrepreneurial culture affording its agents and
franchisees the flexibility to operate their businesses with great
independence. Over 115,000 agents provide RE/MAX a global reach of
more than 100 countries and territories. Nobody sells more real
estate than RE/MAX when measured by residential transaction sides.
RE/MAX, LLC, one of the world's leading franchisors of real estate
brokerage services, is a wholly-owned subsidiary of RMCO, LLC,
which is controlled and managed by RE/MAX Holdings, Inc.
(NYSE:RMAX). With a passion for the communities in which its agents
live and work, RE/MAX is proud to have raised more than
$157 million for Children's Miracle
Network Hospitals® and other charities. For more information about
RE/MAX, to search home listings or find an agent in your community,
please visit www.remax.com. For the latest news about RE/MAX,
please visit www.remax.com/newsroom.
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SOURCE RE/MAX, LLC