One question we always receive as REALTORS is - What's going to happen next? What's the crystal ball for where prices are going over the next 12 months?
According to the NAR, Zelman, Realtor.com, Freddie Mac, CoreLogic, Fannie Mae and the Mortgage Bankers Association, the average of all those top industry insiders and economists within those groups, their prediction for the next 12 months is that we're going to see appreciation at 3.9%. You might think that sounds low. After all we just went through a year where we had double digit appreciation and in many markets we saw appreciation as high as 15-16% . Why would this group of economists predict such a low number when most of us would reasonably expect it to be double digits or high single digits (at the very least).
The reason is I think those economists know something - When you have a low supply and high demand, what happens? Prices go up. When supply increases, it puts pressure on...
What is your marketing sequence for a new listing during Covid-19?
Watch this quick video for some ideas on how to create urgency and multiple offer opportunities using virtual open houses and batched showings.
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About Jim Remley
Jim Remley is a nationally recognized expert in the...
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