Americans are more encouraged than they have been in years regarding the current state of the United States economy, according to two reports that were recently released. Thanks largely to a stronger-than-forecast United States payroll report, the argument for the Federal Reserve to begin raising interest rates in June has been strengthened significantly. This new outlook comes soon after the jobless rate in the country reached a point that officials now view as "full employment."
According to a recent survey, customer opinion reached its highest level in more than a decade in January 2015. Consumers were judging prospects for the financial economy as the best that they've been in 10 years, with half of all consumers expecting the economic expansion to continue for at least another five years, if not more. The anticipated strength of the overall economy has also brought with it not only more favorable income, but higher employment expectations, as well.
What does this mean for real estate? For the first year since 2006 (which was just prior to the highly publicized market collapse that the country has been facing every year since), Americans now have an overall positive view of the industry as a whole. The industry is now experiencing its first positive rating in a Gallup poll since the same period of time.
To put that into perspective, real estate had a negative ranking every year from 2007 to 2013. It is with great pleasure that I am able to report that from 2014 onward, Americans officially have a positive outlook again not only toward the economy, but with regard to our ever-growing real estate market. This means especially exciting things to Weston Hills in particular, where the market has already climbed to heights that it hasn't experienced in years.
This positive outlook represents a great moment to sell in Weston Hills, in particular thanks to increasing prices. However, prices are still far below what they are in other nearby areas, such as Aventura and Sunny Isles. In Sunny Isles, for example, you can afford to move by selling your home right now. In years past, one of the primary reasons why people would sell their homes was to decrease their overall cost of living and related expenses; this was especially true after the unfortunate financial and economic collapse.
In Weston Hills, though, many sellers are actually looking to downsize house space first and not necessarily to cut expenses at all. People are finding that they can do less with more, which is benefiting everyone by way of a stronger-than-average market and positive outlook for the next few years.
Make no mistake, as the economy continues to grow and the real estate market expands along with it, this means nothing but good things for sellers and buyers alike, particularly in Weston Hills and the surrounding areas. The market may not yet be at the levels it was experiencing during its historic heights in the early part of the 21st century, but the positive momentum that it is currently experiencing is still creating excellent opportunities in real estate just the same.