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Real Estate Trends:

 

From Wikipedia, (the free encyclopedia), the definition of: (in part)

https://en.wikipedia.org/wiki/Real_estate_trends

 

Real estate trends is a generic term used to describe any consistent pattern or change in the general direction of the real estate industry which, over the course of time, causes a statistically noticeable change. This phenomenon can be a result of the economy, a change in mortgage rates, consumer speculations, or other fundamental and non-fundamental reasons.

A real estate trend is the catalyst for the change, and it is usually a concept, a belief, a philosophy, or an event. Sometimes a real estate trend evolves to meet a specific need, while others evolve when new products or solutions are launched. For example, when more lenders began offering creative financing products, more borrowers were able to afford a mortgage (at least on paper). At other times, a trend from another industry spills over into the real estate industry and is adopted.

Therefore, a trend must have substance and be based on fact. Over time, it will cause pattern of change. Monitoring changes and tracking trends is a not an exact science and can be very hard to predict……..

 

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From The Appraisal Institute © – The Dictionary of Real Estate Appraisal (Fourth Edition)

 

Trend: A series of related changes brought about by a chain of causes and effects. Trends are forecast through economic bas analysis, statistical analysis, market analysis, and analysis of economic indicators and surveys.

 

Trend Analysis:

1) A quantitative technique used to identify and measure adjustments to the sale prices of comparable properties; useful when sales data on highly comparable properties are lacking, but a broad database on properties with less similar characteristics is available. Market sensitivity is investigated by testing various factors that influence sales prices.

2) The Office of the Comptroller of the Currency requires that an appraisal inform the reader of any market trends, regardless of whether the trend reflects rising or declining values. The OCC stresses the importance of identifying negative trends so that a regulated institution can avoid extending credit on insufficient collateral. The OCC cites the following examples of negative trends: increasing vacancy rates, greater us of rent concessions, and declining sales prices. The effect of market activity on the subject property may be reflected in listings, options, or sales agreements, which indicate such trends (Federal Register).

 

Trending: Adjusting the values of a variable for the effects of times. Usually used to refer to adjustments of assessments intended to reflect the effects of inflation and deflation and sometimes also, but not necessarily, the effects of changes in the demand for microlocational goods and services (IAAO).

 

Trending Factor: A figure representing the increase in cost or selling price over a period of time. Trending accounts for the relative difference in the value of a dollar between two periods. (IAAO).

 

Brevard County is served by 2 MLS Boards, (basically spliting Brevard County in half).

In order to get the big picture of the entire county, one must ascertain the listings and numbers from both MLS Board's.

 

Source: Space Coast Area Realtors (SCAR)

Accurate results always depend on timely & accurate data entry.

Information deemed reliable, results Not Guaranteed.

Copyright © Brevard MLS. All Rights Are Reserved.

Link to SCAR Web Site: https://www.space321.com/

 

Source: Melbourne Area Association Realtors (MAAR)

Accurate results always depend on timely & accurate data entry.

Information deemed reliable, results Not Guaranteed.

Copyright © Brevard MLS. All Rights Are Reserved.

Link to MAAR Web Site: https://www.maar-fl.org/