The demand for real property is back, says NAR Report
By Jeff Sorg, OnlineEd Blog
WASHINGTON D.C. (August 6, 2015) –Real estate firms are confident in the industry’s future growth and their increasing profitability, according to the 2015 National Association of Realtors® Profile of Real Estate Firms.
“A majority of firms have a positive view of the future, with 95 percent of all firms expecting their net income to either increase or stay the same in the next year,” said NAR President Chris Polychron, executive broker with 1st Choice Realty in Hot Springs, Ark. “The improving economy continues to fuel job growth, and while some markets are still recovering, the demand for real property is back, and prospects are looking good for the real estate industry.”
The annual survey found that commercial firms are the most optimistic, with 75 percent expecting net income to increase, and 22 percent anticipating it to stay the same. Residential firms are only slightly less optimistic; 69 percent report that they expect to see an increase in their net income next year, 25 percent expect it to stay the same, and 6 percent predict a decrease. Only 3 percent of commercial firms predict a decrease in net income in the next year.
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