A new survey by the National Association of Realtors shows that homeowner opinions reflect the changes in the economy. The survey lets real estate agents know what their clients are thinking but not actually saying.
Real estate agents can glean several key insights from this survey, especially when armed with effective real estate training. The results will help you answer these questions for your clients, providing them with the best experience.
Should You Buy a Home Now?
According to 68 percent of respondents, now is a good time to buy a home. Individuals who strongly hold this opinion have increased compared to the previous quarter. Is the economy encouraging clients to buy? Understanding your local economy helps you advise buyers.
In many communities, prices are going up. In fact, 68 percent of people surveyed say their communities have faced increasing prices in the last year. The high demand for homes is leading to significant changes in pricing.
Should You Sell a Home Now?
According to 75 percent of the survey’s respondents, now is a great time to sell a home. This figure has increased in the last few months. Older buyers, those over 65, are much more optimistic about selling homes than younger respondents.
Whether you should sell your home right now also depends on where you live. Optimism about selling homes is higher in the Midwest and South. If you live in one of these regions, you may have an easier time selling a home. Just work on your listings to appeal to this optimism.
Is Homeownership Harder Now than Ever?
The vast majority of survey respondents claim homeownership will be more difficult for future generations to achieve. Most individuals under the age of 34 believe buying a home is more difficult now than in the past, perhaps because they are currently trying.
The reason for eroding confidence in young buyers? Low inventory increases home prices, creating a pretty high barrier for first-time buyers in many parts of the country. Understanding the needs of younger, first-time buyers is crucial.
Is Home Ownership Worth the Trouble?
A resounding yes, at least according to 67 percent of the survey’s respondents. These individuals claim owning a home strengthens the community. Individuals who buy homes rather than rent are more likely to volunteer, vote, and otherwise engage with the community.
Buyers love to see a sense of community when they shop for a home. Find out as much as possible about the home and the community so you can offer as much information as possible to buyers.
How Can Real Estate Agents Help?
Real estate agents can help buyers and sellers make their marks by focusing on real estate training. Learning how to interpret these studies helps you educate your clients and meet their needs. Courses are available now. You can start your training today!