Your President Elect and AE are already planning for a great year ahead in 2017. Last week, both Churchward Davis and Sandy Carroll attended the National Association of REALTORS Leadership Summit in Chicago. In addition to going to “the mother ship” (NAR Headquarters located on the Magnificent Mile), there were two days of sessions for maintaining a strong association on the local level. Along with some great leadership tools, there were some interesting national trends that we would like to share:
The New Economic Future
Lawrence Yun, NAR Chief Economist presented The New Economic Future, which was a mix of housing numbers, generational trends, and home-ownership rates. In a nutshell, he is forecasting increasing home sales in 2017. There are positive indicators throughout all markets. The wealth gap between home owners and renter grows, with homeowners having more equity and value than renters. We were also glad to hear about the good employment numbers and US dollar strength to continue affordable mortgage rates and home demand. The “American Dream” of home-ownership is at an all time high (87%) but we have hit a 50 year low of actual home-ownership rates. Student debt plays a part in this dynamic. For many more interest details, please check out his Presentation (PDF: 4.1MB)
Smart Home Technology
Mark Lesswing, NAR Chief Technology Officer offered a very interesting presentation on Smart Home Technology and what the techies at NAR are working on. Smart homes are a huge design trend (operating the home remotely, using technology to save on energy costs etc…) but equally important, they are using technology to create healthier homes. Below are the AIA Home Design Trends in a nutshell, but check out The Center for REALTOR Technology to see what our geeks are up to. Think about these popular home owner desires / design trends when crafting the marketing story for your listings!
- Smarter homes (technology equipped)
- Healthier homes (think air, water, environment)
- Energy efficiency
- All about the kitchen
- Outdoor living spaces
- Home offices
- Smaller but better designed homes
- Urban influence / feel
The Future of the National Association
Dale Stinton, NAR Chief Executive Officer presented his view of the revolution that the association needs to undertake to stay competitive with the outside forces. While his presentation showed the dominance of Realtors in the marketplace compared to Licensees, he also talked about a unity of goals and our local association’s Core Standards. He shared the focus of the REALTOR Association:
For those that want more about the other topics covered at the Summit, please view the NAR Leadership Summit Presentation page for details! We are looking forward to a great year ahead.