Something super exciting happened in the last month that we haven't seen in the last 15 years:
Home prices on existing homes exceeded home prices for new homes.
Think about what I just said:
Existing home prices exceeded new home construction. So it was actually cheaper to go buy a brand new house nobody had ever lived in than buying an existing home. Absolutely amazing.
Lots of reasons behind that. But one of the reasons is normally when you're buying new construction, you're locking in a price six months earlier. And then they complete the new construction and you move in.
Well, the market has super accelerated in those last 6 months. And guess what's also happened:
Now, if you were to try to pull that off, what's happened with all kinds of lumber, supplies, and even appliances?
Prices have gone up.
So this will probably not be repeated anytime soon because now prices on new construction are beginning to rise again.
But what an interesting anomaly and just another facet of this market. We've got this dynamic market that's being pushed along by amazing demand and very low supply.
So if you're a student of the market, these are what are interesting pieces of data to bring to your audience, your social media, and your Sphere of Influence. To let people know what's happening in the market so they can be informed consumers.
And that's what you want to be. You want to be the advocate. You want to be the person that they trust.
It's so important you take that role. But how do you do it?
You put this kind of information out on social media, through video. You can put it in an infographic. You can put it out as an email.
There are so many ways you can distribute this kind of information, which makes a huge impact on people's perception of you in the market.
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