Dancing with the real estate market.
There are two kinds of real estate reports. I share both.
The first kind of reporting is What-Happened-Reporting.
This is where we report active listing inventory, how many contracts were written, how many sales closed and what average price per square foot paid and months supply of inventory.
Here’s an example of the latest What Happened in The Woodlands TX report.
By analyzing past buyer and seller behavior/activity we can draw conclusions about what future buyer and seller behavior/activity might be. Pretty standard stuff.
The second kind of reporting is What-Is-Happening-Now-Reporting.
This kind of report is less standard and in my opinion the best indicator of what to expect in the present and immediate future.
What-Is-Happening-Now information includes things like:
Internet web activity and property views – People view and research web listings, photos and property information before they buy and while they are looking. When web traffic is high, higher sales numbers are around the corner – it never fails.
For example, the picture below shows increased web traffic for Prudential Gary Greene, Realtors listing inventory on Trulia.com This is good news for our sellers.
Another leading indicator is Showing Appointments. These days, Showing Appointments are recorded online. That means we can track the number of Showing Appointments by price range and zip code. Below is snap shot of zip codes 77380, 77381, 77382, 77384 in The Woodlands, in the price range $200,000 – $450,000. If you take a look at the totals at the bottom of the picture, you’ll see the UP TREND.
Other less empirical, but equally accurate, are indicators like Open House Traffic, inbound phone calls and how busy the real estate agents are – all of these are UP. Also, no doubt you’re seeing more Sold and Pending signs in all neighborhoods.
What’s it all mean?
The odds of well selling summer are very high. All What Happened and What-Is-Happening-Now indicators are positive. If you’re thinking of making a move, now may be the time. What-Happened and What-Is-Happening-Now indicators are on the rise and I predict home prices, along with mortgage rates will rise.
Then theres’ this. . .
I’m not sure what the impact of the rumored Exxon/Mobil HQ announcement will be, what do you think? If it happens will it boost the market? What do you think?
Thanks for reading, if we can be helpful – Ken Brand 832-797-1779