You absolutely need to watch the video above to get every “How’s the Market?” insight from the Oracle, Steve Harney, founder of Keeping Current Matters.
In it, he…
- Breaks down the current state of the market
- Predicts the year to come: Home values, transaction numbers, interest rates and more
- Talks “recession” news – and how you should refer to it instead
- Weighs in on the impending “bubble”
- Shares tips on your crucial task of controlling the narrative
- Identifies two things winners do in a changing market
- Explains why you’re a flag-bearer of the American Dream
- And much, much more!
Here in the blog, I’m going to recap five of my biggest takeaways… So let’s get to it!
What’s Happening with Home Prices Now
With all the talk of a real estate slowdown – and memories of 2008 as the most recent example in people’s minds – there’s a perception that the home prices are trending downward.
Steve says that’s not true.
What’s really happening is that price appreciation is slowing… but prices are not depreciating.
This is a very important distinction to make when speaking with homeowners and prospective buyers.
What this means for you: If you’ve been promising homeowners that you can get them the fastest sale at the highest price, you might want to adjust your spiel.
Okay… But Where Are Home Prices Headed in 2019?
KCM researched the 2019 pricing projections of 100 leading housing economists.
Are you nervous? Don’t be…
Ninety-four of those predict home prices will continue to appreciate in 2019.
Two of them predict no change in home prices in the coming year.
Four of them predict a slight depreciation in home prices between now and 2020.
I urge you to cite these statistics when speaking with consumers. This is NOT 2007 all over again. As I’ve been saying all along, we’re simply in a “normal market” now.
Solid Advice for High-End & Luxury Agents
Steve made a special point to single out agents who specialize in the upper end of the market. His advice is solid regardless of market conditions, but it’s especially important to take to heart now:
Price your listings correctly from the start!
High-end properties that are overpriced are languishing on the market.
He added this creates an opportunity to get Expireds and price them to sell!