Home Sales Drop, Prices Surge
Recent data found that sales of existing homes fell 2.5% in August when compared to the previous month's sales. It's slightly lower than analysts expected and is the third straight month of sales coming in below four million.
Even though inventory numbers are improving, it's still just over a four-month supply and is keeping the pressure on prices. The median price of an existing home sold in August was $416,700, up 3.1% from the same month in 2023. That's the highest price ever for August.
First-time buyers made up just 26% of August sales, matching the all-time low from November 2021. All-cash sales came in at 26%, which is down slightly from a year ago but still high historically.1
Strategies for Better Content Creation
Increasing your social media's effectiveness can seem like an overwhelming task, especially if you're always careful to post new content at the best time, and post more than photos of your listings. However, stats show that agents that post consistently often end up with the best results. It builds trust with followers, encourages engagement, and increases your chance of a post going viral.
With this in mind, here are some tips for creating entertaining, engaging content every week.
Write down those "ah-ha!" moments. Inspiration for content can appear at any time, no matter what you're doing. Save these ideas on your phone or carry some sticky notes and pen with you. Building a library of these ideas can make future content creation faster, easier and more fun.
Hold content creation meetings. These don't have to be daily, or time-consuming. If you have creative friends or colleagues, offer to buy them lunch in exchange for some content ideas. And it's never a bad idea to take the time to see which social media posts are getting the most hits, and why.
Create a photo/video library. This can be anything from local scenery to photos of events (especially if you helped support the event!). Photos of followers and their pets are also a big draw...which is why having a pet photo contest online is always a big hit. Just make sure any contest is in line with RESPA regulations.2
Spooktacular Listings for Halloween-Loving Buyers
Chances are, you've enjoyed scrolling through some eccentric properties for sale at places like Reddit's Zillow Gone Wild subreddit. But since Halloween is right around the corner, you might want to check out Spooky Houses for Sale online.
Depending on when you visit the site, you may spot anything from an abandoned Victorian fixer-upper to the Villa Serenella in Italy, a 17th-century, 10-bedroom castle. Prices run from $59,000 to over $7 million.
Who knows...you may spot your own dream home here.3
Consumer Guide Series Available Online
While keeping supplies of informative flyers is never a bad idea in theory, it's difficult to predict which ones you'll need. Also, regulations may change right after you've printed hundreds of flyers with information that's now obsolete.
Now you can print what you need in minutes by visiting NAR's Consumer Guides online. You'll find these printable PDF flyers for these topics:
- Written buyer agreements
- Open houses and buyer agreements
- RealtorĀ® ethics
- Veterans' home buying guide
- Offers of compensation
- Negotiating a written buyer agreement
Holiday Greeting Ideas for All Budgets
If you're concerned about the costs of mailing personalized traditional greeting cards, or worried about sending the right message, here are some things to consider.
If cards and envelopes are out of your price range, consider ordering some colorful, personalized postcards instead.
You don't have to send a holiday-themed card. For example, a winter recipe or sports schedule may be more useful and retained for months. Or send "thank you" cards to clients and referral sources.
A simple hand-written message goes a long way, but these take time. This is why you may want to start on these earlier than usual.5
Sources: 1cnbc.com, 2buffer.com, 3spookyhousesforsale.com, 4nar.realtor, 5swnsdigital.com
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