The most common questions among real estate investors frequently revolve around what to expect from the real estate market in the future. With so many factors influencing the market’s behavior, accurately predicting the changing marketplace is incredibly difficult. Many investors will be pleased to learn that the prognosticators are predicting the housing market will continue its recovery, with several important factors influencing the uptick.
Phil Pustejovsky can review the trends in the previous year’s market to help predict its future behavior. As an expert in real estate investment, Pustejovsky has been involved in over 1,000 transactions and has written an informational guide on investing: How to Be a Real Estate Investor. He is also a well-respected analyst, with his work appearing in the Wall Street Journal’s MarketWatch, Yahoo! Finance, and CBS MoneyWatch.
Pustejovsky indicated that the market has been and will continue to be influenced by the behavior of the Millennial generation, who are responsible for significant increases in activity in certain cities such as Austin, Portland, Seattle and Minneapolis. The cities that are successfully attracting members of this generation are experiencing an economic boom, punctuated by a real estate market on the rise.
While the recovery is still ongoing, Pustejovsky does not believe that this year will see a significantly greater increase in growth than in previous years. Rather, he expects the uptick to be consistently on a modest rise. This is because real estate growth is still dependent on job growth, and until the economy completely recovers and job growth rises, the real estate market will continue to recover at its relatively modest rate.
Pustejovsky also believes that the market remains ripe for investors, particularly creative ones that stick to the fundamentals. “There is always the opportunity to do incredibly well in real estate investment when the investment is done properly and based on sound principles,” said Pustejovsky. “It is helpful to be mindful of economic trends, and to take advantage of any information you may have, but to never lose sight of the basics”