Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.
Issue link: http://remag.rismedia.com/i/284184
T he extreme ups and downs of the real estate market we've experienced in recent years have taught us many lessons, but perhaps one lesson most of all: that normal is good. With 2013 marking the second year of the real estate recovery, a normal, balanced market is within reach once again. For the more than 1,000 respondents to our 26 th Annual Power Broker Survey, this is great news. "In 2013, potential homebuyers and even sellers saw that homes were starting to gain value," explains HomeServices of America Chairman & CEO Ron Peltier. "We saw the activ- ity level pick up dramatically over and above 2012, based on the belief of the consumer that housing is a good investment again. Now, as we begin 2014, I think we are fairly close to entering a normal marketplace." While there are still hurdles to jump before we can say the market has fully recovered—low inventory, lingering economic uncertainty, pockets of distressed properties, etc.—2013 represented a positive year for the majority of our Power Brokers. This is clearly refected in the num- bers they reported this year, with collective sales volume jumping from roughly $768 billion in 2012 to more than $925 billion in 2013, and total transactions increasing by more than 250,000 in 2013. While most Power Brokers expected 2013 to be a solid recovery year, many didn't anticipate just how proftable it would be. "Even despite the inventory concerns we saw in 2013, I was most surprised by the strength of the market," says CENTURY 21 Affliated President Dan Kruse. Beginning on page 78, you'll fnd complete coverage of our 2014 Power Broker Report & Survey, including a ranking of the top 500 frms, insights from leading bro- kers across the country, and statistical data on market dynamics. To all the brokerage frms who participated in this year's survey, we extend our sincere thanks. Your willingness to share both your successes and challenges in 2013 serves as an important barometer for the industry at large. Look for our Power Broker Report publication— which includes a complete ranking of the more than 1,000 participating frms—later this spring. Wishing you continued success, John E. Featherston CEO & Publisher Bringing Normal Back Why 'Local' LeadingRE: The Global Behind L 8 RISMedia's 26th Annual Power Broker Report: Getting Back to Balance www.rismedia.com @RISMediaUpdates facebook.com/rismedia April14_RIS_Portal_Pages.indd 996 3/26/14 12:03 PM