Here’s your weekly digest of all things real estate. And from our family to yours, we wish you a happy and healthy holiday season!
Home sales surge to 10-year high
This has been a memorable year in real estate, so it may not come as a surprise to learn that home sales were higher than they had been in a decade. But as good as sales were, they likely would have been better if inventory hadn’t been so tight in many locations across the country.
Young buyers also continue to struggle with home purchasing, primarily because of price increases but also because there are so few starter homes available.
As we move into the new year, the market will be watching how homebuilders address the shortage of homes available.
5 things to know about the 2018 housing market
Is the purchase of a new home on your list of resolutions for 2018? Here’s what you should know about the housing market in the upcoming year.
— Tessa Jacobs (@tessarealtor) December 18, 2017
- Home prices have been rising steadily over the past few years. You can expect that continue. Have the increases reached bubble proportions? Industry experts say no.
- The West Coast has enjoyed the most appreciation in home values, with the East Coast seeing more moderate increases. There is plenty of variation from one city to the next across the country, which is generally tied into economic growth in the area.
- Buying a first home will continue to be a struggle for many across the country because of the shortage of starter homes on the market.
- Credit constraints continue to impact prospective homebuyers, which is a good news/bad news situation. The good news is that mortgage lenders haven’t set us up for a repeat of the housing crisis that occurred back in 2008. The bad news is that many consumers simply cannot qualify for a mortgage.
- Look for mortgage rates to go up in the new year.
5 ways to provide better service in 2018
If you want to up your game in 2018 by providing better service, here are five ways you can start incorporating that into your day:
- Make sure good customer service is part of your company’s culture.
- Stay in the moment to help ensure a better future.
- Own up to your mistakes.
- Don’t get caught up in arguments.
- Be appreciative—and show that you care.
Inman’s top 25 most-read stories of 2017
Do you want a review of the stories everyone was talking about from the past year? Inman has put together a list of 25 of them.
Here are the top 5:
- Keller Williams branch fires agent over controversial Facebook post
- Realtor finds two dead bodies inside home for sale
- Homes with this color bathroom sell for $5,400 more
- Brad Inman live blogs Keller Williams family reunion
- Realtor fined $450 for marketing violation warns colleagues of mistake