The exciting growth the real estate market has recently experienced is only continuing as we head into the final months of the year. Paul Breunich, President and CEO of Julia B. Fee Sotheby’s International Realty, takes a closer look at today’s healthy market in the latest entry in our “Supply and Demand” video series. Here, Breunich reveals the dramatic increases in closings year to date in the markets where we operate, comparing data from August 2013 with the same time in 2012, and points to the various reasons for this significant activity. These include a high Consumer Confidence Index, lower levels of unemployment, quarter over quarter increases in GDP and mortgage rates that remain at historic lows even as they are starting to rise. Please view our new video to hear the detailed discussion straight from Breunich.
However, Breunich’s talk with “Supply and Demand” host Ana Berry is much more in depth than a recap of recent market performance. The video also touches on just what makes our brand so unique in its ability to handle the “demand” piece of the economic model. Consumer desire, capability and willingness to buy a specific property all factor into the definition of demand in real estate, and the concept is made clear in the video’s interesting pyramid graphic. The base of the pyramid, its biggest section, includes the lowest priced properties with the largest pool of potential purchasers, while higher sections include higher priced listings with smaller buyer pools.
Sotheby’s International Realty® brand offers perhaps the most powerful marketing reach available in the real estate industry through world-wide brand marketing. “We expose our clients’ homes to the four corners of the world,” Breunich states, and we achieve this by providing information on our listings to not only our own firm’s local offices and sales associates, but also to agents throughout our worldwide network of affiliates in addition to Sotheby’s auction houses around the globe. Through our network of 700 offices on six continents, we are able to present our properties to a qualified audience from Manhattan to Moscow, from northern New Jersey to Hong Kong. Furthermore, we receive over 1 billion annual media impressions by participating in strategic online marketing partnerships with respected national and international media outlets such as The Wall Street Journal, The New York Times, China’s South China Morning Post and the UK’s BBC. We invite you to check out “Supply and Demand” to find out more, including a peak at what to expect from the market both short and long term.