1. Generation Y jumps to the top. Generation Y are those ages 32 and younger who made up the largest number of home buyers, at 31 percent, according to the National Association of REALTORS®. Seventy-six percent of these sales were first time home buyers. Generation X are those 33 to47 in age and made up the second-largest group (at 28 percent), followed by younger baby boomers (18 percent) and older baby boomers (14 percent).
2. Mobile real estate search. Consumers are taking to their mobile devices in droves for real estate searches. More than half of Gen Y and Gen X buyers used a mobile device during their home search. Among those who did, 26 percent of Gen Y and 22 percent of Gen X found the home they ultimately purchased via a mobile device, according to the National Association of REALTORS®. It all goes to show that consumers are becoming far more comfortable searching for real estate on mobile devices. Mobile real estate apps are here to stay!
3. Paperless business. Want to spend more time helping clients and less time dealing with all that paperwork? There’s a plethora of online tools that allow you to file and manage documents electronically. One option is DocuSign, a program for creating and transmitting documents electronically from any device. This saves time in obtaining signatures, therefore the response time to offers becomes quicker and more efficient. It is still recommended to review all contracts with your agent to ensure all questions have been answered prior to signing anything.
4. Where is the inventory? The complaint is widespread: Housing inventory has been stubbornly low in the past year. Well, perhaps that’s starting to change. The number of listings nationwide ticked up by 4.3 percent to 1.9 million homes on the market in June, according to Realtor.com®. That’s the highest monthly jump in a year, and rising home prices could persuade more sellers to throw their homes on the market in the coming months.
Be sure to stay ahead of the curve. As I have said since the beginning, please call a local Realtor for all your real estate needs no matter how big or small. We are trained professionals here to make your life easier. It's best to surround yourself with the right team of professionals that can continuously give you the right advice for all your circumstances.
Lisa DiBiase is the owner/realtor for Landing Real Estate.