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Home Sales in 2019
Every seller knows that real estate markets are local. However, this fact does not necessarily negate the market at large. In fact, the broader market has an incredibly noticeable influence on nearly every region in the US. That’s why iMaxCRM strives to keep with the status quo for real estate nationwide.
What’s more, we understand that overarcing shifts in the market can help us see the bigger picture. Not only does this understanding lead to more refined sales strategies for agents, brokers, lenders, and teams, but it can also give you a competitive edge in today’s unpredictable marketplace.
However unpredictable, one thing is for certain regarding the real estate market in 2019—home-buyer’s are back.
That’s right! In the wake of last year’s rocky road for real estate, the market seems to be gaining momemtum.
Let’s take a peek at some trends arising in 2019.
Homebuyer Comeback
Recent research from the National Association of Realtors (NAR) purports pending home sales went up to 4.6 percent in January compared to December. Likewise, homebuyers are entiering the market in droves.
Do you know why we’re experiencing such a formidable influx of buyers?
To be honest, there is no single determining factor when it comes to the performance of the housing market. Yet, persistent low mortgage rates and buyer-confidence are aspects of today’s market which definitely play a part in its’ overall direction.
Lawrence Yun, the NAR’s head economist, stated, “A change in Federal Reserve policy and the reopening of the government were very beneficial to the market." He also said, "Homebuyers are now returning and taking advantage of lower interest rates, while a boost in inventory is also providing more choices for consumers."
It’s clear lower interest rates and higher inventory is good for buyer’s. But, how do these elements affect the sellers’ market?
There’s blood in the water!
With so many home-buyers entering into the marketplace, sellers need to start tweaking their strategies according to existing trends. In other words, if you want to sell real estate, you’d better have your ducks in a row!
By the same token, if you need help organizing your contacts, setting up an automated marketing strategy, or putting most of your computer related tasks on auto-pilot, get in touch with iMaxCRM. iMaxCRM is the real estate industry’s leading CRM software and is the perfect solution for goal-oriented people in 2019. Together with automating many of the daily tasks we Realtors detest, iMaxCRM can help you stay up-to-date with the fast-paced digital landscape which drives the real estate market.
The 2019 real estate market so far
On a regional-level, pending home sales across the Northeast increased 1.6 percent and reached 7.6 percent more sales than the previous year. Comparatively, the Midwest experience an increase in monthly sales by 2.8 percent, while hovering just below last year’s average by 0.3 percent.
At the same time, the West saw a rise in sales from December to January of 0.3 percent. In contrast, the same region went down 10.1 percent from last year. Finally, the South experienced the greatest monthly increase in pending home sales with an 8.9 percent jump. Comparatively, sales in January 2018 exceeded 2019 by over 3 percent.
The future is bright with iMaxCRM!
Despite favoring buyers, the real estate industry in 2019 remains hopeful for sellers as well. Ultimately, buyers and sellers are finally settling down and getting together on costs. Now, I get it. Closing deals can still be a royal pain in the you-know-what with all the uncertainty surrounding the real estate market. However, the resilient buyer demand seen so far this year speaks to a growing confidence among buyers.
Are you wondering what else is behind the recent influx of buyers into the market? Well, it’s no secret that mortgage applications are a plenty in 2019. Not only have the number of applications increased by 5.3 percent weekly, but it also stands 0.5 percent ahead of the annual curve.
Markedly, you can’t deny the fact that mortgage rate are inversely correlated to purchasing volumes. To put it differently, more buyers sign contracts for mortages because rates are lower than in the past.
All things considered, iMaxCRM can help you get your affairs in order for the quickly changing competitive landscape in 2019’s real estate market. Alongside offering sage advice regarding marketing, sales, and automation, we can serve your every digital need for your business.
Want to learn more about how to dominate the sellers’ market and close deals?
