Nationally –
According to the NAR | U.S. housing market: quick rebound, low supply, prices continue to surge.
Here is their why:
“Looking back at the bubble years, house prices exceeded house-buying power in 2006 nationally, but today house-buying power is nearly twice as high as the median sale price nationally…
Many find it hard to believe, but housing is actually undervalued in most markets and the gap between house-buying power and sale prices indicates there’s room for further house price growth in the months to come.”
Mark Fleming | Chief Economist
Willamette Valley –
The SHIFT in business to RESALE vs refinance, let’s talk about it.
At the PEAK of the refinances this year, we hit over 1,900 in refinances.
That is in Benton, Linn, Marion, Polk and Yamhill counties. That was in March of 2020.
At the same time, we had a “slump” in residential resale of 878 units sold also in March.
Now let’s talk about the mix of business shifting to Resale Focus.
IN JULY, we see the shift! Just over 1,000 refinances and 1,316 resale units close in March.
Possibly becoming more of that “balanced market.”
HOWEVER, inventory is still at an all time low. Buyers are ready go, buy in groves…. How are you going to compete?
Especially in a time, nationally and locally, that we have more RE agents than inventory?
- DO SOMETHING different.
- Be consistent
- Market during the GOOD and GREAT TIMES!
We have the resources, reach out to your sales executive today!
