A recently published study by Steve Sawyer of Penn State University confirms what most agents already know – that competition is fierce. The study analyzed 12 local markets that represent 800 of the largest metropolitan areas and was based on local MLS data, interviews, and secondary sources. The study found some interesting results. Though there [...]
A new white paper by Real Living called Women, Technology and Real Estate: Leveraging the Connection found the following:
Freddie Mac may say there’s no housing bubble, but the folks over at Fool.com aren’t buying it. They refer to a recent New York Times article where 2 Goldman Sachs analysts caution that home prices are now overvalued on average by 10%. And if interest rates rise just 1%, that percentage will increase to 15%.
Clickz.com recently cited an NAR study on Realtor’s tech budgets. They say the average Realtor spent $1300/year on technology, up 52% from 2002! Virtually all agents work for firms with websites ad 50% of Realtors have their own site. Comparatively, the NAR found that typical members budgeted $1200 for promotion and marketing expenses for 2004.
A recent article in the Philadelphia Inquirer mentioned a number of statistics about the currently booming real estate industry. Some interesting facts & figures include: More than 200,000 Realtors have flowed into this market over the last five years, with the greatest percentage increase coming in 2002 and 2003. The current number of NAR members [...]
The numbers are in for April, and apparently higher mortgage rates are starting to take their toll. As CNN’s Money states
Stocks are down to their Dec 2003 lows as of todays because of fears of a stronger economy, which inevitably means the Fed is looking to raise interest rates very soon. Marketwatch.com is predicting a 92% chance that the Fed will raise interest rates in June, and five quarter-point moves by the end of the [...]
Sales and Marketing Management published a story on the job outlook for a number of industries in their Feb 2004 edition. Their outlook for the Real Estate industry looks pretty cool in comparison to other industries surveyed:
Perhaps you’re wondering why I’ve been listing so many stats and trends in my recent postings. I see so many organizations that use lots of marketing tactics, but have no strategic focus. They send mail or advertise at random – particularly when they need business or when they see a competitor doing so. Haphazard marketing [...]
These are from NAR There were a total of 6,100,000 existing-home sales in 2003, up 9.6 percent from the previous record of 5,566,000 in 2002. NAR began tracking the sales series in 1968. Existing-home sales increased 6.9 percent in December to a seasonally adjusted annual rate* of 6.47 million units from a level of 6.05 [...]
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