Newsletter Spring 2017
Clients and Friends,
RLA and Associates is happy to report the 2017 market is off to a great start. Perhaps a result of the change in interest rates, an end to the election cycle or just overall consumer confidence we can’t tell for sure but all indictors are are pointing toward a very strong first quarter even prior to the official start of the spring market.
If thats not good enough, the 2017 Oakland County Economic Outlook Summary has some good news of its own. A few of my favorites include: job growth in 2016 was up 17,168, residential sales were up b 6 percent, and last but not least the sale of Bloomfield Park. Yes, the cement jungle on the north side of telegraph in Bloomfield Township has finally sold and is going to be redeveloped as is the Phoenix Center which will create nearly 1800 new jobs. Last but not least, Apple is to announce they are moving its research department from California to Oakland County.
In 2005, Oakland County was ranked the 3rd wealthiest county in the country. Between 2008 and 2010 it dropped to 39th and in 2016 it climbed all the way back to number 8. Quite a come back. By 2018 Oakland County projects an additional 44,000 new jobs. You might assume these are mostly auto industry related, but guess again. The number 1 industry in Oakland County is actually Health care services which was a conscious effort made in 2009 to divest from the heavy auto related focus of the area.
What does all of this mean, we shall see. but we believe it will mean good things for the health of the real estate market. So even if you are not looking to buy or sell in the near future you can likely sit back and relax because we here at RLA and Assoc, are predicting an increase in your current property value over the next few year which is good news for everyone.
As always, we are here for all of your real estate needs.