RE/MAX Co-CEO Adam Contos’ Outlook on the 2018 Housing Market
DENVER/ Jan. 8, 2018 (STLRealEstate.News) — Today, RE/MAX Co-CEO Adam Contos offered his perspective on what’s ahead for the 2018 U.S. real estate market including a continued shortage of the number of homes for sale which, in part, led to more home sales and increasing home prices last year.
“Turn up the volume on new home building,” urged Contos, citing housing starts that are down 2.9% year-over-year and well below the historic 50-year average. “We’d love nothing more than to see the next generation of homebuyers start building equity now.”
Despite the shortage and any further tightening of inventories, Contos sees an abundance of positive trends too as the overall economy continues to strengthen fueled by wage growth and increasing consumer confidence.
A few things to watch out for according to Contos are any reoccurrences of the devastating hurricanes and fires of 2017, any negative impacts to the U.S. stock market and side effects of the tax bill that passed at the end of last year.
“We’ll certainly see our share of challenges in 2018,” said Contos. “But with the challenges will come ecstatic home buyers and sellers, new and booming communities (one boasting the new Amazon headquarters) and fresh innovations in real estate that we never saw coming.”
To see Contos’ full 2018 outlook, click here.
RE/MAX, LLC, based in Denver, CO, also issues housing data monthly via the RE/MAX National Housing Report which compiles data from 54 U.S. metro markets to shows trends.
To view the monthly RE/MAX National Housing Report, visit https://www.remax.com/newsroom/national-housing-report/
About the RE/MAX Network
RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. Over 115,000 agents provide RE/MAX a global reach of more than 100 countries and territories. Nobody sells more real estate than RE/MAX when measured by residential transaction sides. RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, is a wholly-owned subsidiary of RMCO, LLC, which is controlled and managed by RE/MAX Holdings, Inc. (NYSE: RMAX). With a passion for the communities in which its agents live and work, RE/MAX is proud to have raised more than $157 million for Children’s Miracle Network Hospitals® and other charities. For more information about RE/MAX, to search home listings or find an agent in your community, please visit www.remax.com. For the latest news about RE/MAX, please visit www.remax.com/newsroom.