We are thrilled to launch our latest ‘Supply and Demand’ video for the viewing enjoyment of our clients and online audience, providing them with a closer look at the various factors that have contributed to improved market conditions.
Fairfield County, CT (PRWEB) June 04, 2013
William Pitt Sotheby’s International Realty, Connecticut’s premier residential real estate firm, has launched the latest episode of its “Supply and Demand” online video series, executives of the company announced today. In the video, President and CEO Paul Breunich explores recent trends in real estate and how they are impacting the market.
Breunich discusses the four traditional phases of the market with host Ana Berry, explaining that the market has cycled through all four phases in recent years and has now returned to the initial Peak stage, last seen in the years 1997 to 2005. According to Breunich, this phase is characterized by high demand, illustrated by increasing unit sales, and low supply, which has the effect of driving prices upward. The Peak period was followed by a Correction period in 2006, with decreasing sales causing inventory to increase while prices remained unaffected; a Trough period in 2008, with supply at its highest and demand at a low point; and a Recovery period in 2011, with supply shrinking and unit sales finally rising.
“We are thrilled to launch our latest ‘Supply and Demand’ video for the viewing enjoyment of our clients and online audience, providing them with a closer look at the various factors that have contributed to improved market conditions,” said Paul Breunich, President and CEO of William Pitt Sotheby’s International Realty. “We hope that viewers come away from the video sharing our optimism not only for the currently thriving real estate market, but for where we are headed for the foreseeable future.”
In the video, Breunich points to a number of indicators that have led to increased consumer confidence and inspired buyers to return to the market. These include the positive Gross Domestic Product, the steadily decreasing unemployment levels, the historically low mortgage rates, and the dramatic growth in the Housing Affordability Index, which measures consumers’ financial ability to make a home purchase.
The video also includes an analysis of the specific markets where William Pitt Sotheby’s International Realty operates, along with partner firms Julia B. Fee Sotheby’s International Realty and Litchfield Hills Sotheby’s International Realty. Breunich presents year to date market results in Fairfield County, the Connecticut Shoreline and Litchfield County in Connecticut, the Berkshires in Massachusetts, and Westchester County, New York, revealing that year over year closings and pending sales have significantly increased in all of these markets.
About William Pitt Sotheby’s International Realty
Founded in 1949, William Pitt Sotheby’s International Realty manages a $2.6-billion-plus portfolio with more than 1,000 sales associates in over 28 brokerages spanning Connecticut, Massachusetts and Westchester County, New York. William Pitt Sotheby’s International Realty, combined with partner firms Julia B. Fee Sotheby’s International Realty and Litchfield Hills Sotheby’s International Realty, is now the largest Sotheby’s International Realty® affiliate globally, the third-fastest-growing real estate company nationally, and the 23rd-largest real estate company by sales volume in the United States. Julia B. Fee Sotheby’s International Realty serves the luxury home market throughout Westchester County, New York; and Litchfield Hills Sotheby’s International Realty serves the luxury home market throughout Litchfield County, Connecticut. A full-service real estate firm headquartered in Stamford, Connecticut, William Pitt Sotheby’s International Realty provides ancillary services including commercial services through its affiliation with Building and Land Technology, a second-generation development company based in Stamford, Connecticut; William Pitt Mortgage; William Pitt Insurance Services; and an award-winning global relocation division. For more information, visit the website at http://www.williampitt.com.
Sotheby’s International Realty’s worldwide network includes more than 12,000 sales associates located in 660 offices throughout the United States and 47 other countries and territories.