TORONTO, Ontario /eNewsChannels/ — “The doom and gloom media accounts regarding residential real estate ignore positive, healthy activity in thousand of cities and towns cities across America,” says Leon d’Ancona, President of IMS Incorporated, the leading provider of real estate market intelligence to brokers and agents throughout North America.
There is no doubt that the U.S. real estate market has taken a huge hit and many homeowners are feeling the pain of loosing their homes. Fact is, with home prices decimated, in many areas it will take seventeen years or more to return to purchase price even at the unlikely event of a 2 percent increase each and every year. See: http://www.realestatestatistics.com/underwater.php .
However, there is positive market activity as well, and all too often it does not get heard. Furthermore, Mr. d’Ancona states that the problem with glass-is-half-empty viewpoints is that they have an undue psychological impact on markets that is not borne out by all the facts. “We know, because it’s our business to know, that there are hundreds of cities and thousands of neighborhoods in the United States right now where the market is actually very healthy!”
In order to focus a spotlight on the overall effect of this phenomenon, d’Ancona published a REality price index directed at the real estate community: http://www.restats.com/ .
This month’s REality Index shows that since January 2012, homes in the U.S. are selling well-faster and at higher prices. d’Ancona created his Index on the premise that the real estate axiom “Location, Location, Location” applies to statistics as well.
Most real estate statistical reports pinpoint the large cities and omit the many smaller towns and villages that comprise a huge proportion of sales. The REality Index is based on a vast array of over 7,000 cities and towns and provides a much more accurate and therefore more promising analysis of the overall real estate market.
“I believe people will be encouraged to see that resale homes are doing better and the housing a crisis is likely beginning to ease. To paraphrase Winston Churchill “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.”
d’Ancona, who has been providing market intelligence to brokers and agents throughout the United States and Canada for more than 25 years, will update the REality Index once a month to focus on the many bright spots in the real estate industry. “As a result real estate professionals will now be able to guide their clients beyond the gloom and doom by providing the facts which are much more encouraging,” says d’Ancona.
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