Nature provides many examples of how important it is to build resiliency during the changing of the seasons. In between summer and winter is fall. The Monarch Butterfly is as close to understanding life's transformation as I can think to explain how closely related metamorphosis is to business.
First Year REALTORS®
Agents in their first years of being in the business may be surprised to learn how market shift changes inventory, prices, interest rates, and buyer's buying power. These past few years it has been a hot market. But still in all, one must remember nothing lasts forever, changes are inevitable. The Monarch metamorphosis can be seen as a vision of human transformation and how creative we can be when change is upon us to survive and keep on growing.
Monarch Migration
To examine further, what similarities do humans have to butterflies?
- One head
- Two eyes
- Most humans are like butterflies with the ability to see and hear
- Both have a sense and taste to keep on going to survive
Unlike humans, Monarchs begin their migration journey in spring. In contrast, many sellers begin the process to put their homes on the market early enough to list in April or as soon as the weather makes conditions right. In North Dallas, buyers can expect to see new listings as early as January. Buyers may be just looking or deciding. It all depends on the buyer. By the time school is out there seems to be a flurry of activity between buyers and sellers.
The Journey
A monarch butterfly between central-north Mexico and central-north Texas or beyond is about a 3,000 mile trip or more. For the Monarch, typically they only live for four weeks. Some will succeed and few will get as far as Canada; others will not. Fall Monarch Migration began in August.
Dallas Housing Market August through September 2022
Number of homes for sale in Dallas in August 2022: 3,814
Number of homes for sale in Dallas in September 2022: 4,011
Difference = +5.2% up
Number of homes closed in Dallas in August 2022: 1,057
Number of homes closed in Dallas in September 2022: 859
Difference = -18.7% down
Asking Price vs Sold Price for Dallas between August and September 2022:
33% sold at asking price while 67% sold for over asking price. Average sales time in August: 40 days. Average sales time in September: 69 days (+73.3%).
Texas Housing Insights
(Source TX A&M University, Texas Real Estate Research Center as of 9/29/2022)
- "Fed's aggressive monetary policies directly affect the housing market"
- "Mortgage interest rates rose from 2.84 to 5.22%"
- "Inventory remains below historic levels, and prices are still high"
- "As of August, TX median prices remains 11.4% elevated from a year earlier"
- "Demand has fallen, and homes are sitting on the market longer"
- "DFW reacted most moderately" compared to the Austin market"
- "Homeowners current on their mortgage improved 60 basis points in Aug"
- "Overall economy continues to decline"
- "Homeowner financial health has so far remained robust"
- "Texas homeowners were confident that they would not face foreclosure"
Now Is The Time To Build Up Resiliency
Health and safety are key to survival of any species. The psychological rift by the terrifying media about the economy can make people angry, cringe, retreat, weaker or best case scenario stronger. Resiliency begins with determination and creativity to survive whatever life throws at us. The powerful analogy between Monarch metamorphosis and human survival reflects ones own ability to continue to develop skills for survival. Burning the candle at both ends doesn't end well. Taking care of health and knowing your risk tolerance when it comes to health and safety takes precedence over wealth. Our time on earth is our most cherished asset. Survival of the fittest depends a lot on resiliency and how we spend our time. How we choose to use our time impacts us and the lives of others---Patricia Feager
Other Fall Blog Posts:
Can't Help Falling In Love With TX Longhorns
Fall in Line & Do Your Part for Breast Cancer Awareness - Part 3
Why Schedule A Mammogram This Fall? Part 2
OCTOBER IS BREAST CANCER AWARENESS MONTH
Don't Fall Into Fall With A Fall
October Is Time For Work - Can You Dig It?
Why Fall in Love with Cats in October or Any Time?
Spice Up Your Life by Falling in Love with Fall
It's Time To Fall In Love
October Thrills! R U Looking for a Fun Place to Live?
Comments(13)