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Trending Now: Real Estate

Building on Market Trends Posted on Thursday, February 8 in Increasing SalesBinghamtonElmiraIthacaRegional.

It takes a lot of patience and reassuring on the part of the realtor to convince their client to sign on the dotted line. That’s why being able to accentuate the positives of home ownership at every stage of the home-buying process is so important. A realtor’s personal knowledge of the real estate market is invaluable when it comes to illustrating the key benefits of a property and it could mean the difference in making the sale or losing it.

Know the inventory

In September of 2015, existing home up 1.1 percent in 2017.  This is the best year for sales in 11 years, according to the National Association of Realtors.

 

A number of factors can help boost or suppress home sales.

Higher property values (5)

  • The median existing-home price2 for all housing types in December was $246,800, up 5.8 percent from December 2016 ($233,300). December’s price increase marks the 70th straight month of year-over-year gains. Closings for single-family homes priced between $100,000 and $250,000, also known as the "sweet spot," were up 9.2% from the previous year.

Better rates (6)

  • According to Freddie Mac, the average commitment rate(link is external) for a 30-year, conventional, fixed-rate mortgage inched higher for the third straight month to 3.95 percent in December from 3.92 percent in November. The average commitment rate for all of 2017 was 3.99 percent.

Improved job security

  • Rising wages and the expanding economy should lay the foundation for 2018 being the turning point towards an uptick in sales to first-time buyers.

We can help bring the facts into focus

All the data points to 2018 being a banner year in real estate.

So, start planning today for a great year. We can help. Let us help you build a strong presence for your business. We can analyze your business objectives and partner with you to develop a customized solution that fits your needs. Contact us via or by calling 607.798.1325 so we can start the conversation today.

Sources: 

1 Nielsen SMS, 2015

2 Should You Buy Or Build A Home?, Investopedia, www.investopedia.com

3 Ibid.

4 Existing U.S. Home Sales Rise to Second-Highest Since 2007. Bloomberg. 22 Oct. 2015. Web. 2 Nov. 2015.

5 AudienceSCAN Ad Mall

6, 7 Adam DeSanctis, National Association of Realtors. February 7, 2018

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