SOURCE: Imprev Inc.

Imprev Inc.

November 05, 2013 08:55 ET

Top Real Estate Execs Cautiously Optimistic on Housing and the Economy

Imprev Thought Leader Survey Reveals Surprising Trends

BELLEVUE, WA--(Marketwired - Nov 5, 2013) - Top real estate executives see continued improvement in the U.S. economy and housing, but they're not universally bullish on either front, according to 2013 Imprev Thought Leader Survey.

"Their enthusiasm appears to be tempered," said Renwick Congdon, chief executive officer of Imprev, a leading real estate technology company. "We are in a better place than we were last year, so these results are somewhat surprising."

Respondents included more than 260 broker-owners and top executives at leading franchises and independent brokerage firms that were responsible for nearly half of all U.S. residential real estate transactions last year.

Key findings:

U.S. economic outlook: There's a split view on the national economy over the next 12 months: Nearly half say it will improve (46 percent), yet more than half (51 percent) say it will stay the same (38 percent) or deteriorate (13 percent).

U.S. housing market outlook: More than half (56 percent) say the housing market will improve over the next 12 months, but only 2 percent say it will improve significantly. More than one-third (35 percent) say it will stay the same and 7 percent say it will deteriorate. That's less rosy than their views last year, when the 2012 Imprev Thought Leader Survey found 70 percent of top real estate executives predicting the housing market would continue to improve over the coming year.

2014 housing outlook: Confidence in next year's housing market is tempered: Nearly three in four say they are "somewhat confident" in the 2014 housing market (72 percent), but fewer than one in four (24 percent) described their attitude as "very confident" in the 2014 housing market. Good news: Fewer than 5 percent say they are "not at all confident" in the 2014 housing market.

Economic confidence locally vs. globally: Overall economic confidence increased significantly when the executives are looking closer to home. More than three times as many say their confidence in their local economies has improved since January, vs. overall confidence that the world economy has improved.

Year-over-year economic confidence: The level of economic confidence among respondents has diminished across all economic sectors when compared to last year's survey.
Global economic confidence is 14 percent in 2013 versus 16 percent in 2012. U.S. economic confidence is 21 percent versus 47 percent; State economic confidence is 39 percent versus 65 percent; Local economic confidence is 46 percent versus 77 percent.

Brokerage profitability: In an area that broker-owners have more control over, 95 percent say they are confident that their real estate brokerage businesses will be more profitable in the next 12 months than they are today; nearly half say they are "very confident" (48 percent) and 47 percent say they are "somewhat confident."

Imprev inaugurated the Thought Leader Survey in 2012 to provide insight on key business challenges top executives face, encouraging an exchange of ideas and solutions.

The survey was conducted in late October, after the announcement of the re-opening of the U.S. government. Nearly one-third of the 260-plus respondents are 61 years old or older; 38 percent are 51 to 60; 19 are 41-50; and 13 percent are 31 to 40. None of the respondents are under 30.

About Imprev
Imprev, Inc. provides real estate companies with custom Marketing Centers and web applications built on the industry's most advanced platform. The fully integrated marketing tools allow agents to self-publish print, multimedia, video, web, and email advertising and communications in one place. Established in 2000, Imprev is headquartered in Bellevue, Wash., and is online at www.imprev.com.

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