Top Real Estate Execs Weigh in on Housing Recovery
Real estate brokerage executives are getting more confident about the housing recovery. In fact, more than 80 percent say they are “more confident” about the housing market now than they were in January, according to an Imprev Thought Leader Survey by RISMedia’s Real Estate CFO Exchange.
What’s more, more than 65 percent of the executives say they are “confident” the housing market will continue to improve in the next year.
However, potentially softening the recovery is the high unemployment rate, the execs say. Eighty percent said the “lack of job creation” is the No. 1 factor hampering the housing market turnaround, followed by threats to the mortgage interest deduction and the high number of underwater borrowers.
While the execs overwhelmingly are optimistic about the direction of the housing market, they aren’t as confident about the direction of the economy. About 53 percent said they were “confident” or “highly confident” that the economy would improve within the next 12 months, while 46.2 percent said they were “less confident” or “not confident at all.”
For the survey, RISMedia polled the top executives at the leading real estate franchises and independent brokerage firms across the country.