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More First-time Homebuyers Are Entering the Market
The share of first-time homebuyers rose to 36% in April 2020, up from 32% a year ago, according to a recent survey by the National Association of Realtors (NAR). There are several factors motivating this trend: A desire to move out of city dwellings and into more suburban/rural ones following COVID-19 A lack of a need to sell a property prior to purchasing one Record-low mortgage rates A lack of competition from investors scooping up

Are Buyers Readying to Re-enter the Market En Masse?
To get a picture of buyer behavior, Homesnap's data scientists analyzed trends in three key metrics: properties shared by agents, properties searched by agents, and properties favorited by agents. These metrics offer a clear view of buyer intent and sentiment, as agents who are actively sharing, favoriting, and viewing properties are doing so with their buyers. This is what our data scientists found: In a normal year, real estate buyer activity follows a predictable hill-shaped pattern. After a winter lull, home search actions ramp up in the early spring and maintain consistency throughout the summer before tapering off in the latter half of the fall. It looks a lot like

5 Key Metrics Your Customers Need to Know During a Challenging Market
Proactive agents that care about their customers are reaching out to them. They're calling, they're texting, they're driving by and waving and they're emailing! Of course, the most important thing to talk about right now is simply asking each of your clients how are they doing. If the conversation steers back to real estate, there is a ton of great information you can provide. First, some good news. Jim Lawson of Terradatum, one of the nation's leading provider of market statistics, told us during a recent Coffee Chat that week-over-week, new listings in 1800 markets across the state are UP 20%. He also shared that in the same 1800 markets, listings were down the first week in April, 50% over the same week a year ago. While certainly not ideal, I was cautiously encouraged by the recent uptick in listing activity. I believe that many consumers think that the real estate industry is SHUT down right now. That is clearly NOT the case. Key Takeaways 1. Some consumers ARE interested in learning about the real estate market right now, and here are the stats they are interested in: Sold Under Contract New Listings Expired Months Supply of Inventory (MSI) 2. There is a new tool emerging that allows you to overlay the severity of COVID-19 incidence over the location of the home. This is available through a new product called AERGO. 3. There is a new product available called ListingHomeRun.com that provides a FREE online listing presentation. Watch the Coffee Chat with Jim Lawson here: Don't Miss This Week's Upcoming Coffee Chats! Wednesday, April 22 Right Tools, Right Now from NAR to Help You Ride Out COVID-19 with Colleen Doyle of the National Association of REALTORS® Thursday, April 23 How Your Digital Marketing Strategy Can Help Your Real Estate Business During COVID-19 and Beyond with Grier Allen, CEO of BoomTown Friday, April 24 Two Powerful and Effective Ways to Sell Homes with Virtual Open Houses with Richard McDonald, Senior Director at Matterport, and Andrew Dorn, National Speaker at realtor.com If you would like us to sign you up for all upcoming coffee chats, email m[email protected] and he will get you signed up. If you would like to get notifications every time a Coffee Chat recording is published, subscribe to our YouTube channel, RETechnologyInc. Then hit the bell next to the Subscribe button and receive notifications every time we publish new educational videos. Get Recordings of All Coffee Chats If you would like to binge watch all of the Coffee Chat recordings, click here. If you would like a FREE 3-month trial of RE Technology, go to retechnology.com, click Create Account and then use one of these coupon