You can hear it across the country. The sigh of relief as the U.S. housing market continues to make substantial gains. We started seeing improvements in late 2012 and by March of 2013 home prices were on a steady incline with gains of 10.9% from a year earlier, showing the largest 12-month increase in U.S. property value since April 2006. With the initial expectation of a 10.2% increase, statistics are surely proving positive for the future of the U.S. housing market.1
Some of the hardest hit regions during the housing crisis are now listed among the top 10 hottest markets to watch in 2013. From Detroit, MI (ranked at #10) to Phoenix, AZ (ranked at #1), it’s not just the mercury that's on the rise. Home prices have already jumped with Detroit seeing a 13.1% rise with as much as a 3.1% increase forecasted for the remainder of the year. Where Phoenix has seen a 24.0% increase and another 10.6% projected for the coming months.2
As the housing market comes back to normal, now's the time to recognize the innovation in the Real Estate industry that has sustained and nourished growth throughout the turmoil of the housing crisis. HousingWire Magazine, a Real Estate industry publication that covers the U.S. housing economy, from lending and servicing to investment and Real Estate operations, has released the REtech:50. The REtech:50 profiles the nation's top Real Estate technology firms that make an impact and help improve the industry for professionals and consumers.
"The improvement in the Real Estate market presents an ideal opportunity to recognize the technology firms that have helped foster growth in the industry," said Amy Vercher of HousingWire. "Top rated companies, such as Lone Wolf Real Estate Technologies, have made significant impacts on the well-being of their clients over the past several years, enabling their clients to focus on productivity and growth moving forward."
Lone Wolf Real Estate Technologies, a Cambridge, Ontario-based technology provider and top ranked technology firm on the REtech:50, designs software for the Real Estate industry. Its solutions assist brokerages in improving efficiencies and identifying profitability opportunities allowing brokers to focus on the growth of their business and providing the best service to clients.
"Lone Wolf has grown in market share through a recession and we’ve seen our clients’ business grow as well,” says Lorne C. Wallace, CEO of Lone Wolf. "Clients have leveraged the software and data we provide to streamline operations, identify operational gaps and profitability opportunities not otherwise visible in both good and bad times. Efficiency within the office provides additional opportunities to step back and review the business as a whole."
Now that the market is on the rise and banks have increased lending, people are feeling more confident in making the move that maybe they weren't prepared to make last year or the year before. So, when is the best time to capture new business? It's anybody's guess, but as a Real Estate professional, your thought should be "Is my brokerage positioned to capture growth in the new summer market and beyond?" Utilizing the technology available in the industry to help leverage your brokerage's operations will provide more time to identify growth opportunities for your brokerage.
1. Source: Bloomberg.com - Home Prices in U.S. Rise by Most Since 2006 in March - http://www.bloomberg.com/news/2013-05-28/home-prices-in-u-s-rise-in-year-ended-march-by-most-since-2006.html
2. Source: MarketWatch.com - 10 hottest U.S. housing markets of 2013 - http://www.marketwatch.com/story/10-hottest-us-housing-markets-of-2013-2013-05-09
About Lone Wolf Real Estate Technologies
Lone Wolf Real Estate Technologies Inc. is the North American leader in Real Estate solutions and services with over 9,800 offices utilizing their fully integrated product lines. Lone Wolfâ€Ÿs Complete Enterprise Solutions is comprised of its core products and services – brokerWOLF back office management solution, WOLFconnect front office management solutions, globalWOLF website solution, mobileWOLF mobile solution, WOLFmedia ad revenue generation service, WOLFwatch accounting service and Lone Wolf's newest service specific to the agent marketplace, agentWOLF. The Complete Enterprise Solution is ideal for Real Estate offices looking to seamlessly manage their data from the back office to the front office to brokerage and agent websites, providing a single point of entry for data, significant time savings and profitability opportunities. The Complete Enterprise Solution is an invaluable component of a successful Real Estate brokerage. Lone Wolf has offices in Cambridge, ON, Langley, BC, Las Vegas, NV and Show Low, AZ. For more information please visit www.lwolf.com.