“The Recession is Over”
—Dr. Peter Linneman, NAI Global Chief Economist

In a sense it doesn’t seem possible, but we have now entered the second quarter of 2010 and what a difference a year makes:

• The Dow Jones Industrial Average has been consistently over 11,000 for the first time since September 2008.
• The S&P 500 Index has been consistently over 1,200, also for the first time since September 2008.
• The Nasdaq had consistently been over 2,500 for the first time since June 2008.
• Retail sales rose 1.6% in March, the third consecutive month of increases.
• Inflation edged up .1% in March; essentially flat.
• The median price of homes and condominiums in Southern California increased by 14% from March 2009.
• The sale of homes increased by 27%
• NAI Capital’s gross commissions received increased 14% from March 2009 to March 2010.

The economists seem to talk a bit less about a double-dip recession and a bit more about whether the recovery is “V” or “U” shaped. Unemployment remains at 9.7% nationally and although the recovery is still in its early stages, realistically as it gathers strength tax revenue will improve for cities, states, and the nation, which will help substantially with budget deficits.

So, what does that mean for us?

It means we need to work hard and work smart to capture more than our fair share of a market in transition. It means we need to approach each day with a positive attitude, recognizing that regardless of the market nobody wants to work with a sour puss! It means (to use a sports analogy) that we need to play “heads-up ball.” And, most important, it means that we need to stay the course and not allow outside influences to negatively impact our business. 2010 will be a great year for many, but probably not all NAI Capital brokers. What kind of year will you have?