Cooler weather wonât chill the housing marketâs rally, as strong existing-home sales and record-high pending home sales in August indicate no homebuying slowdown in fall, NAR Chief Economist Lawrence Yun says in his latest monthly report. The striking market turnaround since the early days of the coronavirus pandemic has brought a resurgence in bidding wars and proved housingâs resilience in an unusual and volatile year, Yun adds.
But a mix of surging buyer demand and low inventory puts the industry in uncharted territory. The median home price has soared to an all-time high of $300,000, threatening to âchoke offâ first-time buyers from the market and depress the national homeownership rate, Yun says. More homebuilding is necessary to relieve some of the market pressures. New-home sales hit more than a million year to date in September, an encouraging sign. However, lumber shortages are pushing up new-home prices an average of $14,000 since April.
Higher consumer demand for safety and convenienceâand the resulting wave of technologies that streamline processesâhas changed the role of agents. Itâs increasingly necessary to deliver stellar service your clients canât get from an app.
Before COVID-19 hit, millions of Americans had never gardened. Unlike many of the rooms in our homes that donât require frequent attention, gardens need active involvement to see them through colder months.
This isnât the time to let down your guard, particularly if youâre working remotely. Learn best practices for strengthening cybersecurity at home to help you and your clients avoid becoming victims of real estate scams.
Americans are leaning more toward the ownerâs suite than the family room as their favorite part of the house. Place greater attention on staging this space as a restful spot.
Why donât mummies go on vacation? Because theyâre afraid to unwind! Sadly, itâs the same for real estate pros who believe that if they relax, their business will unwind.
Since October 2018, Sean Cochran, a sales associate with eXp Realty in Chicago, has leveraged his talents in spoof videos set to the tune of country hits.
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