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Monthly Real Estate Marketing Review: Limited Housing Inventory and Home Saving Challenges


November 2017 was a busy month for real estate professionals. As 2018 approaches, many agents and brokers are simultaneously looking backwards at their real estate marketing challenges and accomplishments while planning for the year ahead. Are you caught ...

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As 2018 approaches, many agents and brokers are simultaneously looking backwards at their real estate marketing challenges and accomplishments while planning for the year ahead. Are you caught up on all the news, developments, and insights needed to create a comprehensive real estate marketing plan for next year? Find out what you may have missed – and what you should expect – with the roundup of real estate marketing news below. 1

A Smaller Housing Inventory Is Causing Prices To Soar Zillow predicts a tight housing market in 2018

According to its report, inventory shortages will result in 12% fewer properties for home buyers to choose from. Sellers will be in control next year, as the number of available homes on the market will continue to decrease as it has for the past seven years. Zillow forecasts that this will result in several significant housing market trends: Home prices will grow

In fact, Zillow expects prices to climb 4.1% next year. Millennials will have a harder time finding homes within their price range

This will lead to more searches for lower-priced properties in the suburbs. Builders will focus on entry-level homes in order to feed a hungry market. Because the youngest generation of home buyers will have an especially difficult time searching for a new home, it will be more crucial than ever that real estate professionals know how to address their needs and concerns. There are several real estate marketing techniques that you can use to attract millennials navigating the housing marketing

These include: Selling your real estate expertise and helping guide the way through every step of the home buying process

Focus on financial concerns, such as offer coaching and determining which mortgage type is right. Sharing how your skills can help save money throughout the home buying journey

Small things, like assisting with contract negotiations or mortgage lender references can have a huge impact. Making sure that you create an eye-catching website with properties within the right price range

Millennials want to know that attractive properties are still within their reach – and their budget. 2

Rising Rents are Making it Harder to Save for a Home  Another challenge is expected to impact home-buying in 2018

As Zillow reports, renters are having a harder time saving up to buy a home. The problem stems from the rising cost of rent, which is eating up more income and making it difficult to save enough to buy. According to Zillow, stagnant incomes and rising rent are costing renters an extra $2,000 every year

Renters in the nation’s largest markets, such as San Francisco, are spending an even larger percentage of their income on rent. Real estate professionals who are aware of these home buying challenges will be better suited to address this group of struggling renters. Here are a couple real estate marketing tactics to try: Promoting home buying as a financially responsible way to escape the cycle of savings-draining rent. Touting your connections with local designers and contractors that can make a lower-priced fixer upper more attractive to price-conscious home buyers.

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