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The Statistics Behind the Headlines

Posted by on in Home Sales in Flagler County
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Every news show you watch that addresses the economy mentions how much housing has come back from its four year slump. And every pundit points out the correlation behind the housing slump and the economy and draws the conclusion that if housing recovers, the economy cannot be far behind.

If that seems simplistic, you are right, but there is something to it when you examine the facts. First, one of the biggest bottlenecks to economic recovery is the job market. But if we can put contractors, developers, and handy-men back to work that will make an impact. If we see brokers and agents doing well then we know they are expanding instead of drawing back and that means they are employing support staff and contractors. Surveyors, civil engineers, title companies and appraisers are working more and hiring. Stagers, home cleaners, and people associated with home improvement like kitchen cabinetry, pool installers, sun room constructors, all see an upswing when the housing market improves.

And how much has the housing market improved over the same time in 2012? According to the RE/MAX National Housing Report the median home price is up 12.6% over June 2012. Days on the market that it takes to sell have dropped to a quick 65. Out of 52 metropolitan districts reporting, only 3 reported that housing prices have dropped. Twenty-one reported an increase of double digits!

That means that home loans will be easier to get because collateral is worth more. A more favorable lending climate will mean more loans made which increases local prosperity.

And local prosperity is a big part of the housing / economy equation. As the property in Flagler County increases in value, and home sales generate income, all of those stagers, surveyors, carpenters, bricklayers, real estate agents and bankers are local people who go our to eat, shop in local shops, use local services. And that's how the money comes around. This isn't a quick process but it is one that is well underway in Palm Coast and Flagler County! Want to know more about Palm Coast Real Estate? Call us at 386-246-8585 and lets talk about real estate!