So the National Association of REALTORS® published their highly anticipated report this week on the US housing market and all the talking heads on cable tv and the internets are buzzing.
Even though the headlines paint a very rosy picture of the market with juicy little snippets from the report the reality is very different when you look a bit closer at the actual numbers.
The most important report out of the many that NAR publishes is the “Existing Single Family Home Sales.”
This report is the best indication of which direction “the market” is headed.
If property values are believed to be increasing then there should be increasingly more existing homes being sold as has been “implied” in the news:
However, when you look at the report you find that existing home sales were actually DOWN 5.7% nationwide compared to this time last year and only up a curious 5.7% compared to last month which was already written off as a slow month due to the “long winter”.
So what do you do with this information?
Here’s some tips on how to use this market data to sell more houses:
Know the Trends
The second part of the NAR report covers the “Sales Price of Existing Single-Family Homes”.
If you look at the report you can see that out of all the areas of the country only the northeast has actually LOST value by 1.9% as all other regions have increased.
This gives you an idea on where the market may be headed as it has long been believed that New York follows California when it comes to real estate so with the west having sales price increases of 8.2% maybe the east coast is next?
After shooting up 13.8% compared to last year real estate in the West is flat compared to last month.
Does this mean that the growth is paused for a month or over and done with?
I would watch this number closely to see if it starts to trend in a negative direction or if it improves.
The west region will have to sell more units than it has since December of 2013 to report an increase for June. (December 2013 the west sold 960,000 homes May & April 2014 only 940,000)
Promote meaningful information.
Use your blog to analyze this important information and explain your take on what you see happening in the market.
Don’t be afraid to make predictions also as this will start a conversation with your audience which will lead to conversions.
The only thing you need to pull this off is a dynamic website with advanced features that’s easy to use and preferred by elite Realtors.