Stats that might help you become a more successful realtor in 2013

Stats that might help you become a more successful realtor in 2013.

Have you heard the saying that knowledge is power? Well, if you knew a few stats that occurred in 2012 and how it might translate to more business in 2013, would you pay closer attention to the stats? Do you know what type of buyer or seller had transactions in 2012? What is the median income for first time buyers? Who will be the buyers and sellers for 2013?

More married couple purchased properties together in 2012 than any other group of buyers. This could be due to monetary easiness in qualifying for loan mortgage. Two incomes are always better than one. For the City of Eastvale a total of 1,052 homes were sold in 2012, with 515 cash buyers vs. 537 financed buyers. Of the closed transactions that dealt with some sort of financing, 346 were FHA financed.

Nationally, 39% of buyers were first time buyers. This is a good indication that we will be seeing more household formations in 2013 because of this stat. More couples are able to qualify for a mortgage due to the low interest rates and the low housing prices. Another fact that is pushing first time buyers is the fact that rental market is increasingly costing more per month than it is to own a property. Might first time buyers be your niche for 2013?

From the stats above it show how important referal is to the success of our business. When our client are happy with our service, it in turn will translate to more future business. So remember, to give tha extra service that clients will remember you by.

The video below is a short clipse of Lawrence Yun, chief economist for NAR.  He goes over a few stats about pending home sale increases, job growth, rising rent, and household formations. He predicts home prices will continue to rise in 2013.