Market Updates and Why They Matter

If you’re in the market to buy or sell your home, chances are you know a thing or two about what’s happening in the economy. At The Real Estate Group, market trends a...

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Market Updates and Why They Matter

Posted by Crystal Salazar on Friday, October 19th, 2018 at 12:43pm.

If you’re in the market to buy or sell your home, chances are you know a thing or two about what’s happening in the economy. At The Real Estate Group, market trends are wildly important to us, and we empower our agents with this information at our Market Matters class held routinely throughout the year.

To take this knowledge to the next level, we had a special guest speaker at our October business meeting. Chief Economist Greg Grootendorst delivered a fantastic presentation and sorted the information first from a global perspective and filtered it all the way down to our regional market.

Among the pages and pages of notes and ideas we took away from his presentation, we learned some interesting facts. For example, did you know that what happens in Hampton Roads is relevant on a global scale? We’re the 37th largest metropolitan area in the United States and trends in our area are indicative of other areas as well. Another fun piece of information: in relation to the rest of the United States, Hampton Roads has a great median income.

Like most things at TREG, the cream really began to rise to the top during the question and answer portion (we often refer to this as our collective IQ). Our owners, brokers, and REALTORS ® had a slew of questions for Mr. Grootendorst ranging from potential rising interest rates to underwater fiber optic cables to what we could do as a community to make a change.

Regardless if you’re buying or selling, we know every market presents its own opportunities and we feel it is our duty to stay in the know to better counsel our clients and help them make the best decision possible. It’s important to us to stay mindful of economic updates throughout the year as they’re trending because knowledge is currency, and your property is a commodity that we do not take lightly.


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