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Daily Archives: May 12, 2020
Real Estate Podcast: Business Practices for the New Normal
In today’s dynamic world, the methods and means of communication are shifting, especially for REALTORS®. Maintaining relationships is a key part of the real estate business.
Kim Cameron is the special guest on this NAR’s Center for REALTOR® Development podcast and shares some of her systems for staying in touch with past clients and friends. She and Monica talk about the importance of what they are doing now, and how some of these practices may carry forward even once we are out of this time.
Home Prices Rise Despite Falling Demand
Source: Statista
The sale of existing homes across the U.S. has taken a nosedive since the beginning of the year amid lockdowns due to COVID-19. Despite this lack of demand, the median price of existing homes continues to go up.
As of March, the median price of existing U.S. homes is up 8 percent since last year. While home sales had a strong end to 2019 with prices up 9 percent a year before, that number has quickly dwindled to just 0.77 in March.
With falling home sales, many would expect home prices to also fall due to lower demand. However, according to the Wall Street Journal, the supply of available homes is falling even faster than the demand for them, leading to a steady increase in prices.
Many sellers are also weary to cut prices, with the belief that most buyers are just temporarily unable to attend viewings in person during COVID-19 lockdowns.
