Individual stories from several sectors – including the U.S. Department of Commerce and National Association of Realtors – indicate an improved economoc forecast for all areas of the real estate industry, including golf course communities.
According to a recent article posted to Newsmax.com: “Experts say 2015 will be a particularly strong year for the national real estate market. Positive indicators were evident in late 2014; for example, the U.S. Department of Commerce reported sales of new homes grew by 0.7 percent in October 2014, and sales of existing homes rose 1.5 percent. The economy’s resurgence is spurring a similar uptick in the golf and the real estate markets, making it an advantageous time to invest in golf course communities.
“Moreover, demand for vacation homes has also escalated. According to the National Association of Realtors, sales were up 10 percent in 2012 and have continued to increase over the past few years. These secondary residences tend to be tied to hobbies, and consumers are willing to pay for resort lifestyles.
“While the economy is improving in the U.S., the stability of Canada’s real estate market is attracting positive attention from buyers as well. According to the Canadian Real Estate Association, exports, job growth and incomes are expected to improve in 2015 with mortgage interest rates edging only slightly higher. These factors should benefit sales activity in housing markets.
“One example, Cobble Beach in Ontario, integrates picturesque waterfront homes into pedestrian-friendly, environmentally-sensitive settlements anchored by the spectacular (ASGCA Past President) Doug Carrick-designed, links-style golf course.”
The entire article can be seen here.