Ivy
Zelman is an industry expert consistently recognized by Institutional Investor, Greenwich Associates, StarMine
and The Wall Street Journal
as an industry-leading analyst. What separates her from many other analysts is
the fact that she has accurately called the real estate market continuously
over the last decade.
Her Position in 2006
She was one of the first to call
the burst of the housing bubble. She was nicknamed ‘Poison Ivy’ for the harsh
positions she took in combating the overly optimistic views of many in the
industry at the time.
What happened next?
Existing home sales plummeted,
new construction starts feel to historic lows and prices dropped by 50% in some
areas of the country.
Her Position in 2012
Ivy Zelman, in a Wall Street Journal
article in March Stunned Home Buyers Find the Bidding Wars Are Back,
projected that the real estate market was about to rebound and that home prices
would begin to appreciate. She emphatically claimed:
“We very much believe we’ve hit
bottom.”
What happened next?
Pending
sales (homes going into contract) surged in May and have remained above what is
recognized as a healthy market level ever since. Starting in June, home prices
began to appreciate on a year-over-year basis. This continued through the rest
of the year with yearend appreciation coming in at 6.8%.
Her Position Today
What is Ms. Zelman saying today?
In an interview on CNBC, she said:
“I think we are in Nirvana for
housing…I’m probably the most bullish I’ve ever been fundamentally…I think home
prices could go up for four to six years…Today, the urgency and sentiment
toward buying residential real estate is back.”
What will the future bring?
If Ms. Zelman’s past
predictions are evidence of her understanding of the housing industry, it seems
that real estate is about to make a dramatic comeback.Please give me a call for all your real estate needs. (910) 617-7654 or email me at joyce@intracoastalrealty.com . Serving Wilmington, Carolina Beach, Kure Beach, Wrightsville Beach and surrounding areas. I'm happy to answer any of your real estate questions. Ask about a free Market Analysis to see what your home is worth.
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