Real Estate Rundown October 2019
October 08, 2019
As we get deeper into the fall season, a few surprising trends are starting to emerge. While some experts are still convinced the housing market is about to take a dip, others are confident that things will remain steady. Even though there is less inventory in the fall, some areas are seeing an increase in bidding wars and faster sales. Other regions are experiencing a longer selling cycle for expensive. Read up on what’s happening in the real estate market so you can adjust your marketing and keep your schedule full of profitable moves.
While recession fears are certainly spooky, the housing sector is still in great shape. There have been warning signs of an oncoming drop, but so far it's only amounted to a slow down. See what emerging trends are bound to have an effect on the 2020 market.
Typically, when the temperature drops, so does the housing market. That’s not the case for all regions. Some areas have seen increased competition and bidding wars creep back. This shortened fall moving cycle could be good news for movers.
Does a decline of home inventory in September signal an overall shortage or can it be attributed to homebuyer demand from low-interest rates? While there may be fewer homes on the market, movers could see faster sales than are typical in the fall.
A trend among expensive homes is starting to emerge; home prices seem to have outrun the fundamentals of supply and demand. Some think this pause is just temporary and has been brought on by a cycle of buyers outbidding one another and driving up prices in exclusive neighborhoods. Movers affected by this trend can expect longer than usual period between new listing and pending status for expensive homes between new listing and pending status. Consider doing direct mail retargeting with a mailing 90-days on the market or at pending status.
Consumer optimism around the US housing market hit an all-time high in August but uncertainty about the economy and individual financial circumstances are starting to weigh on people. Learn more about the state of the Consumer Home Purchase Sentiment Index and how this scale could indicate present and future market health.
While many predict an oncoming recession, a new report, Emerging Trends in Real Estate 2020 indicates steady real estate markets through 2021. Dive deeper into this report and learn more about the emerging trends that are shaping the modern real estate market, and therefore, the moving industry.