By National Association of Realtors, Special for  USDR
Can a groundhog and his shadow predict the strength of the housing market? Here is what happened the past 20 years in real estate when Punxsutawney Phil climbed out of his hole; does seeing his shadow extend to real estate? You  decide.
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Shadow of a Doubt: Groundhog Day and Real Estate |
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|
Year |
Shadow |
Home Sales Increase |
Home Price Increase |
Year |
Shadow |
Home Sales |
Home Prices |
|
1996 |
Yes |
8.3 |
4.6 |
2007 |
No |
-22.3 |
-1.3 |
|
1997 |
No |
5.0 |
5.2 |
2008 |
Yes |
-18.3 |
-9.5 |
|
1998 |
Yes |
13.5 |
5.3 |
2009 |
Yes |
5.6 |
-12.9 |
|
1999 |
No |
4.3 |
3.9 |
2010 |
Yes |
-3.5 |
0.2 |
|
2000 |
Yes |
-0.1 |
4.1 |
2011 |
No |
1.7 |
-3.9 |
|
2001 |
Yes |
3.1 |
6.6 |
2012 |
Yes |
9.4 |
6.4 |
|
2002 |
Yes |
5.6 |
7.7 |
2013 |
No |
9.2 |
11.5 |
|
2003 |
Yes |
9.6 |
8.4 |
2014 |
Yes |
-2.9 |
5.7 |
|
2004 |
Yes |
9.7 |
9.3 |
2015 |
Yes |
6.3 |
6.8 |
|
2005 |
Yes |
4.5 |
12.4 |
2016 |
No |
3.8 |
5.2 |
|
2006 |
Yes |
-8.5 |
1.0 |
Sees no shadow |
0.3 |
3.4 |
|
|
Sees a shadow |
2.8 |
3.7 |
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*Averages based on YoY median sales price and median existing home sales increases from  1996-2016.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.1 million members involved in all aspects of the residential and commercial real estate  industries.
Information about NAR is available at www.realtor.org. This and other news releases are posted in the “News, Blogs and Videos” tab on the  website. Â
SOURCE National Association of  Realtors
