I have a better way to predict the real estate market than any economist on Earth. It's more accurate than anything that a group of Ph.D.'s can come up with by crunching numbers and data. It has nothing to do with stocks, economics, currency markets, the price of oil, or the price of anything at all. It doesn't even have to do with the inventory of homes. I have a data set that, when it's all said and done, is the only set of 'data' that matters. This magical predictor is called - clients.
By about this time each year, I already know who about 70% of my buyers and sellers are going to be. I've been talking to them for months, some of them years, searching for properties, finalizing moving plans, and setting dates to go home shopping. Some of them call me 2 years in advance to let me know what they are going to be doing and when.
As of today, March 20th, I can already tell you that this year's volume will be about 50% more than last year (which by the way was a great year.) Today I have appointments set in April and May. Today I am speaking to buyers who will be moving here late summer. Today I also have sellers who plan to sell in the fall.
The economists don't know these people. Market predictors don't have my client's names and numbers, moving dates, and price ranges - but I do.
I know the future in March of every year, and 2010 is going to be huge.