Survey of local agents shows strong real estate market in Sussex County
In a recent survey of its members conducted by the Sussex County Association of Realtors, respondents indicated in overwhelming numbers that their own personal real estate transactions were either somewhat or significantly higher than a year ago.
The anonymous survey, conducted in early August, was distributed by SCAOR to realtors from throughout Sussex County. Those receiving the survey were asked to honestly gauge the current status of their personal real estate transactions.
The results further reinforce the positive data compiled by the association over the last several quarters, data which shows the local real estate markets in a continued and sustained period of growth.
“I know my business is personally up significantly over the last 12 months, as are the transactions for other members I talk to on a regular basis,” says Bob McVey, 2013 president of SCAOR. “It’s nice to hear and see that most other members here in Sussex are experiencing the same kind of activity. It’s a good time to be in the real estate profession here in southern Delaware.”
The survey, dated Aug. 13, was distributed to more than 1,300 real estate professionals in Sussex County and asked respondents to evaluate the number of their real estate transactions compared to last year. Fifty-six percent of respondents answered either Significantly Higher or Somewhat Higher, while another 33 percent answered About the Same.
Only 11 percent of those surveyed indicated that their real estate activity was lower compared to August 2012.
“We had a pretty good idea prior to this survey being conducted how it was going to turn out, but it’s nonetheless very heartening to hear so many of our members say that they are experiencing increased business in 2013,” says McVey. “Real estate is a key contributor to a strong economy; they really do go hand in hand. I definitely think we’re seeing that play out at this time.”
Over the course of the last couple of years, positive housing trends in Sussex County have been largely fueled by incredible buying opportunities and record low interest rates. In 2013, however, the strong data seems to be the result of an overall strengthening of the broader American economy.
More people are looking to enter the market over the last year or two in southern Delaware, as is clearly indicated by the most recent survey data.
The Sussex County Association of Realtors was chartered in 1949 and has steadily grown in size, scope and mission during its more than six decades in Sussex County. It is a professional trade association with goals of carrying out a program of education and advocacy for real estate in the county. To read more about issues related to Sussex County’s real estate industry, go to www.scaor.com.