Harvard professor Mark Perry has been one observer who has consistently chronicled the silver lining in the recovery, sharing discrete pieces of data that show the economic engine gearing smartly back up.
Last Friday, he shared another in a series of posts that have looked at the recovery in local real estate markets. The subject of this post: Minneapolis.
Perry points the steady improvement over the past three years in price, value and velocity. The year-to-date numbers show consistent trends, he points out.
I’m struck by the impact on the economic vitality of real estate agents. Commission income has bounced back to where it was in 2008. With fewer agents in the market, that should mean the opportunity for agents to boost earnings is significant.
Agents will play a big factor in the continued recovery of the resale home market: the more confident and upbeat they are, the more excited home buyers and sellers will be.
