Real Estate & Domain Names Recovering
There are emerging signs of stabilization in the greater economy and early indications of real estate recovery. Both are helpful to the domain name & internet industries.
Per the Charlotte Business Journal, the National Association of Realtors have reported that the United States experienced the first back-to-back monthly gain in homes sales since September 2005. This included single family homes and condos. Condos and co-op May 2009 sales saw a 6.1 % increase over April.
The Realtors Association reported that the number of active buyers in the market is up 10% from one year ago. These numbers suggest that pockets of recovery are surfacing and that prices & opportunities are too good for some investors to pass up.
The Columbus Ledger-Enquirer reported this morning that local real estate professionals are seeing an uptick in real estate activity in the Columbus, Ohio area. They are expecting a significant spike in positive real estate statistics in 2 months as there are notable delays in home closings (up to 60 days due to stringent mortgage requirements and lengthy paperwork).
In my state, North Carolina, there are reports of some companies adding significant numbers of jobs. Obviously, good news and a sign of promise considering that most news reports in the past year have only identified job losses.
After a 6-month decline in the stock market beginning September 2008, the market began to turn the corner in March 2009 with the Dow Jones Average having held now for awhile above 8000. Without question, more time is needed to see how the larger economy plays out.
Domain interest during these turbulent times has remained fairly high. Domain values have also held steadfast. I believe that global interest in domaining will reach unprecedented levels within the next year. And to the extent that job creation becomes a reality, we may see considerable hot activity in the domain world.
With major corporations strategizing for the future & new media empires poised to rise, online business will become a central focus of every market. Quality internet properties will gain further status as independent businesses and likely targets of investment capital.
i do not see the economy coming back at all. I am not sure what stats they are looking at.
@domain renewal
The first back-to-back gain in homes sales since 2005. And 10% increase in active real estate buyers over last year. Signs that a real estate bottom is in. You are right though about general economy. More debt resolution must occur and job creation for us to turn the corner in a big way.