According to recent reports, housing prices have increased by more than 9% in most parts of the United States. This is the biggest increase in prices since 2006.
Other economic indicators point towards a positive growth in the housing market from the spring through the fall of this year. For example, the unemployment rates have dropped. In certain sectors, employers are bringing in new staff and adding new jobs. Additionally, the average household wages have increased and consumer confidence has become more positive as well.
Real estate experts say that more Americans are renovating and expanding their current houses. Some people are even investing in a second home.
In fact, the renovation trend doesn’t stop with homeowners. Restaurants, for example, are rehauling, renovating and reinventing themselves. What does this mean to your career as a real estate agent?
It means that it’s time to step up on your real estate marketing efforts. It’s up to you to reach out to past, present and prospective customers and let them know how you can help them buy or sell a home.
As the economy inches upward and new businesses get a facelift or move into town, it drives more traffic to the area. As businesses expand, more employees will be looking for their next home.
Plus, more traffic means increased exposure and attention. This makes a neighborhood desirable to prospective homebuyers. As a real estate agent, you may see an increase in interested customers.
Although economists can’t predict what is going to happen, the current market remains dynamic and presents many good opportunities. The housing market and the construction sector are beginning to right themselves. All of these signs point towards a positive recovery in the industry and for your real estate career.
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