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Discover key insights on home sales projections, mortgage rate trends, millennial buyer behaviors, and real estate market shifts in the coming months. Get expert forecasts and data to steer your career path successfully.
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The 3 Reasons thenext 90 Days areCrucial toyourCareer
We’ll Crush 2014 Production NEXT YEAR
Projected Total Home Sales (Existing & New Construction in millions)
Home Price Expectation Survey A nationwide panel of over one hundred economists, real estate experts and investment & market strategists.
Cumulative House Appreciation by 2019 32.8% 32.8% 23.5% 15.1% Bulls All Projections Bears Home Price Expectation Survey 2014 4Q
RISING MORTGAGE INTEREST RATES
Mortgage Rate Projections 11/2014
“While higher interest rates generally detract from housing activity, when they occur with strong job and income growth the net result can be increases in household formations, construction, and home sales. Our view for 2015 is exactly that, namely, income and job growth offset the negative effect of higher interest rates and translate into gains for the nation’s housing market.” - Freddie Mac
May 2000 July 1984 October 1987 December 1994 Dramatic Mortgage Rate Increases May 1983 March 1987 October 1993 April 1999 Real Estate Value Change During Each Time Period
NEW 3% DOWN PROGRAMS
MILLENNIAL BUYERS
Percentage of Income…
More or Less Affordable? Renting a Home Buying a Home …in the third quarter than it was in the pre-bubble years (1985 -1999)
Purchase Price Distribution of Homes Purchased by Millennials
Top 5 Reasons for Millennial Buyers to Move To establish own household Needed larger unit Want to Own New job or job transfer Live in a higher quality unit
Top 5 Reasons Millennial Buyers Choose a Home Financial Reasons Like the Size Layout/Design Like the Neighborhood Construction Quality
EXPIRED LISTINGS
Re-Up their listings that are about to Expire
List EVERY expired listing in January
FSBOs as a Percentage of all Home Sales The percentage of homes selling as a FSBO has decreased from 19% to 9% in the last 20+ years
Typical Sold Price* FSBO vs. Agent $235K $209K By AGENT By FSBO *The ‘typical’ price is actually the average price in the survey. However, studies have shown that people are more likely to FSBO in markets with lower price points.
Where Buyers Find the Home They Purchase Over the Last 10 Years by percentage The Internet Yard Signs Newspapers
% of Buyers who used an Agent NAR
Thursday, February 19th 2PM EST
Next Strategy Call Wednesday, March 11th 2PM EST