It's interesting to observe both local and national/international real estate trends. For example, on the island, sales have increases 22% year-over-year. This is huge!
Globally housing prices are tending up - real estate is one of the most local businesses around, but it's helpful to take a look outside and see what's happening. What are sales and price trends like in the world's other top economies?
A recent round-up from The Economist shows that prices are on the rise in most markets across the world. 16 of the 20 markets tracked by the publisher saw inclines in the third quarter from a year ago. Only Ireland's worsened.
According to the National Association of Realtors, over $40 billion in U.S. real estate was sold to foreign buyers last year. When you think about that, it suddenly becomes really interesting to see how foreign markets are performing and how various markets can affect purchase decisions for intercontinental buyers. This year we have SOLD homes to BUYERS from Canada, South America, Europe & the Middle East.
To make sure Coastwalk clients' are ahead of the curve, we syndicate all property listings on top distribution networks, providing our clients' homes with maximum exposure locally, and internationally.
Nationwide, existing-home sales rose again in September, affirming that a sales recovery has begun, according to the National Association of Realtors®. November Lawrence Yun, NAR chief economist, said the housing market is in the early stages of recovery. "A housing recovery is taking place but will be choppy at times depending on the duration and impact of a foreclosure moratorium. But the overall direction should be a gradual rising trend in home sales with buyers responding to historically low mortgage interest rates and very favorable affordability conditions," he said.