One of the most interesting aspects of the real estate market is that it is constantly changing and always evolving. Each day is different and each season seems to bring about new goals, challenges, triumphs and, of course, the need to adjust your sales approach carefully to meet the needs of your clients as well as your own. Our Real Estate Virtual Assistant team has been assisting real estate salespeople across the nation with their sales, marketing and listing efforts for many, many years, while the changing and fluctuating markets never curb our innovation. It seems like just a couple of months ago we were ringing in the new year, but we are already halfway through another year! Knowing the big picture of the industry that you serve is essential for success, so here are a handful of facts and statistics for 2014 so far:
- Per the National Association of Realtors (R), existing home sales have risen for two straight months (4.9% just in May alone, after accounting for the seasonal slump) while pending contracts have also increased, meaning that home sales will continue to rise over the next few months.
- New construction home sales have also increased considerably. They surpassed the 500,000 annualized sales pace for the first time in 6 years this May, according to the National Association of Realtors (R). This bodes well for increased production and buyers' renewed confidence in the real estate market.
- Realtor.com's National Housing Trend Report for April shows that median list prices rose 6.5%, to $207,500, compared to last year. Both the number of single-family homes for sale and their pricetags are on the rise, proving that the housing market in 2014 is already healthier than it was in 2013.
- In 2013, sales of existing single-family homes and condominiums grew by 11%, to around 5.29 million units sold. This was almost the highest level in four years as sales have increased on a national scale, across all regions. The National Association of Realtors (R) predicted sales to remain steady, at about the same pace, in 2014.
- In the last year, home prices increased in 225 of the 276 cities tracked by Clear Capital, a real estate data and analysis organization.
- Clear Capital is predicting that home prices will increase nationally by about 3 - 5% overall through 2014.
With a recovering housing market and the busy summer season well underway, now is a great time to revisit your marketing and listing strategies! Contact our Real Estate Virtual Assistant team today to see how we can best help you increase productivity and make your brand and marketing work for you!