Salesman Jim Weichert
I told you last week that I believe 2015 will be the best year for real estate in a while. I outlined the unique selling situation we are in, highlighted by interest rates still near their all-time lows, a better selection of inventory than we’ve had in a long time and buyer confidence at the highest level since 2007. On top of that, gas prices are very low, which helps consumers and the economy, plus we’ve had much less snow so far this year!
Here are some numbers which will help you see just how favorable current conditions are, compared to even just a few years ago:
Now
2013
2010
Gas per gallon (NY area)
$1.99
$3.81
$2.73
Stock market (Dow Jones)
17,893
14,776
11,578
Avg. 30-year fixed rate
3.73%
4.43%
4.71%
Consumer confidence rating
92.6
76.2
63.4
Household income
$53,891
$53,046
$49,276
Unemployment rate
5.67%
7.4%
9.3%
Foreclosures
1,117,426
1,369 ,405
2,871,891
Here’s to your success,
Jim Weichert
