{"id":35381,"date":"2020-01-10T09:00:00","date_gmt":"2020-01-10T14:00:00","guid":{"rendered":"https:\/\/bhgrealestateblog.com\/?p=35381"},"modified":"2024-12-30T11:03:25","modified_gmt":"2024-12-30T16:03:25","slug":"current-housing-market","status":"publish","type":"post","link":"https:\/\/bhgrecareer.com\/bebetterblog\/current-housing-market\/","title":{"rendered":"Ten Facts Every Real Estate Agent Should Know About the Current Housing Market"},"content":{"rendered":"\n<p>Understanding the market\nis crucial for agents to serve their clients effectively. From housing values\nto mortgage rates, all factors matter when it comes to finding the right home\nfor a client\u2019s budget and needs.&nbsp;\nPinpoint pricing is critical for a client who wants to buy or sell property. Discover ten facts every real estate\nagent should know about the current housing market.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Housing Prices Are Increasing<\/h4>\n\n\n\n<p>Over the past few years, housing prices have\nsteadily increased each year.&nbsp; Sellers\nexpect top dollar for their homes while buyers face the challenge of covering\nrising costs to own a house. As a result, buyers might become more negotiable\nabout features and locations to be able to purchase properties. Agents must\nkeep a finger on the pulse of housing prices to best advise clients.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Mortgage Rates Are Rising<\/h4>\n\n\n\n<p>Now buyers are facing a double challenge, with\nrising mortgage rates and increased housing costs across the nation.&nbsp; Savvy agents connect with well-informed\nbankers and mortgage companies to provide the latest information to their\nclients. Helping people find a mortgage and get pre-qualified is the first step\nto making a successful sale.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Make Room for Millennial Buyers<\/h4>\n\n\n\n<p>As the Gen Xers and boomers get older, <a href=\"http:\/\/bhgrealestateblog.com\/real-estate-marketing-techniques\/\">millennial\nhomebuyers<\/a> have\ntaken over the market. Most buyers are millennials, and agents need to\nunderstand the mindset of this growing target audience. Millennial buyers are\nconcerned about energy-saving and green features in a home. They search for\nhomes online, want a carefree lifestyle, and focus on a quality home in a\nconvenient location rather than a large one that is further from shopping and\namenities.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Think About Supply and Demand<\/h4>\n\n\n\n<p>There continues to be a limited supply of houses\nwith desirable features. As a result, the focus for agents is still based on\nsupply and demand. In the current housing market, buyers might be willing to\ncompromise on a fireplace or location near highways, to find a house that fits\ninto their other criteria. Agents who help clients think about other\npossibilities are the most profitable in these market conditions.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Homeownership Is On The Rise<\/h4>\n\n\n\n<p>Though home prices and mortgage rates continue to\nincrease, homeownership is on the rise. More people are owning homes rather\nthan renting them. People continue to want the American dream of owning a\nhouse. And, consumers are discovering it often costs less per month to pay a\nmortgage than it does to cover rent. Plus, rental costs increase each year,\nwhile mortgage fees are more predictable.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Rentals Are Expensive<\/h4>\n\n\n\n<p>After the housing crash In 2008, the cost of rentals\nincreased as more people needed temporary housing. The price of rentals\ncontinues to be expensive, driving people to save the money to purchase a house\nrather than rent one. While agents can still make money from listing\napartments, the ultimate goal is to help as many people as possible qualify to\nbuy a home.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Fewer Homes Are Being Built<\/h4>\n\n\n\n<p>New construction is slowing down due to the\nincreasing cost of land, labor shortages, and cumbersome local regulations. As\na result, consumers are looking to older homes that are newly renovated with\ncutting-edge appliances and fixtures. Encourage sellers to invest in updates to\nmake their homes more desirable. Encourage buyers who prefer new construction\nto view houses that are totally renovated.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Large Homes Are Less Popular<\/h4>\n\n\n\n<p>There was a time when bigger was always better when\nit came to housing. Now buyers are cautious about purchasing more house than\nthey need. Consumers consider expenses such as utilities and maintenance\nassociated with owning a big home. Agents can appeal to buyers by showing\nsmaller homes that are move-in ready and have modern amenities, such as\nenergy-saving lights and appliances.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">People Search for Homes Online<\/h4>\n\n\n\n<p>The majority of potential homebuyers go online to\nfind available properties. While some still check local ads and drive around\nlooking for \u201cFor Sale\u201d signs, most people hit the internet to search for houses.\nRemember to keep search engine optimization (SEO) principles in mind when\nwriting listing descriptions and tagging photos of the property. Buyers should\nbe able to easily find an agent\u2019s listings, including during mobile searches.\nAdd localized keywords to attract the right target audience. Better Homes and\nGardens\u00ae Real Estate <a href=\"https:\/\/greenhouse.bhgre.com\/content\/BHGRE\/en\/content\/marketing\/social_media\/social-media-overview.html\">agents use social\nmedia<\/a> to reach\nout to more buyers and other key players.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Bring It To The Table<\/h4>\n\n\n\n<p>Regardless of the <a href=\"http:\/\/money.com\/money\/4285854\/real-estate-markets-housing-price-forecast-map\/\">current housing\nmarket<\/a>, each side\nmust bring it to the table. Pre-qualified buyers and sellers concessions are\nstill terms that move deals forward. Top agents discuss the need to negotiate\nor sweeten the deal to get the right conditions. Agents who make everyone happy\nwith minimal hassles are sure to get referrals \u2013 and repeat business \u2013 in the\nfuture.\n\nUse these ten facts\nabout the current housing market to advise\nclients who want to buy and sell property.\nWell-informed agents help clients make educated choices about one of the most\nsignificant investments of a lifetime. And, happy clients are sure to spread\nthe word.\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The experts at Better Homes and Gardens\u00ae Real Estate share ten facts every agent should know about the current housing market and sell property fast.<\/p>\n","protected":false},"author":181,"featured_media":35391,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31,81,131,151,181],"tags":[10411,12731,34491,34721],"class_list":["post-35381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage-operations","category-education-2","category-marketing","category-news","category-real-estate","tag-current-housing-market","tag-education","tag-real-estate-knowledge","tag-real-estate-news-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Current Housing 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