Today, I want to talk about what we are starting to pay more attention to, and that is Leading Indicators, and how they help formulate my opinions in terms of Residential Real Estate future sales and price.

Even so, when you are charting what has happened, you can make a chart look good, or bad. You can make it scary or encouraging. It’s all how you frame an item. For instance, take a look at the following two charts:

So here we are. 75 Days or so since ‘chaos’ started. It’s been months since the Governor of Nevada instituted the shutdown, and we’re currently in Phase 1 of the reopening of the economy. Where do we go from here? While there is a lot of work to do of course, this will focus on what we are expecting in the housing market, as well as some general economy points.

According to Lawrence Yun, the Chief Economist for the National Association of Realtors (NAR), “In 2020, we hit the pause button for two months.” I heard this quote earlier this week and it stuck with me. Yes, I do understand that some of us are ready to open things immediately.

Congrats! You’re looking at the bright side of things. You’re seeing optimism, and believe me, there is some optimism to be seen. Let’s talk about the Real Estate Road to Recovery and where I see benefits, for both Buyers, and Sellers.

Is the glass half-full? Or is it half-empty? How do you look at it? Because the metaphor goes beyond the water in the glass. It’s sometimes a window into how you look at things. How you process information, feeligns, emotions, and decisions.

The history of Summerlin goes back to 1952, when Howard Hughes purchased roughly 25,000 acres in a thought of moving some of his Business to Nevada. The cost was $3,000,000, which was a lot of money back then

Governor Sisolak has just announced Phase 1 of Reopening the economy in Nevada is set to commence on Saturday, May 9th. This is amazing news, but definitely should not be abused. Some businesses will not be opening as a part of Phase 1

1. More than 63% of Realtors are women. 2. Only 43% of Realtors have completed a bachelor’s degree or higher. 3. Nearly one in nine Realtors in the United States lives in California.

All this together hopefully shows you, as the general public, that Real Estate is about more than just sales. We are doing what we can to help ALL in need. The market is so enormous, without it, as much as we are hurting as an economy now, we would be in far worse shape with the closure of this aspect of the financial markets… so if it is time to sell, buy, or rent, know that we are here for you, and are doing things like never before, to help with the safety and wellbeing, of all involved people.

In their most recent market report, Zillow has placed an estimate of market value for Residential Real Estate for the United States at $33.8 TRILLION! You read that right… $33,800,000,000,000! Put that number together with Commercial Real Estate, and you have a total Market Value of just a tad under $50 Trillion Dollars!

Some buyers are expecting the world to collapse. They are fully expecting the Real Estate Market to ‘Go on Sale’ if you will. One of the most common messages I have been getting from FUTURE CLIENTS is “We are going to wait for the market to collapse and then we’ll buy.” So… where are they getting this from?