Top things to know this month
- There were 309K homes sold in February, a 2% increase over January
- The HSP model predicts there will be 426K homes sold in March (a 38% increase from Feb) and 410K homes sold in April
- It’s time to focus on what you can control
Back in August we first started to notice we were bouncing along the bottom, and we’ve continued bouncing for quite some time. But today, with the latest data from our Home Sales Predictor, we are seeing the first sign of the trough.
This month’s Home Sales Predictor model predicts there will be 426K home sales in March, which is a 38% increase from February.
In April, it’s a similar story with 410K home sales predicted across the U.S. While this is a 4% dip from March, we saw the same dip happen between March and April the last few years so this seems to be a seasonal trend.
The message this month (but really every month) is focus on what you can control. We can’t control interest rates or mortgage rates, and we can’t control what NAR and other orgs choose to do, but what we can control is how much effort we put into our own business. How much investment. We get to choose how we spend our time, and if you’re not choosing to spend your time landing listings, you’re focused on the wrong things.
It always has and always will be all about the listings. It’s the job of the agent to go out and find those listings since they don’t grow on trees. Go find prospective sellers in your sphere of influence. Let those sellers know they can and still should transact. Walk them through it, be the expert.
The prediction now is interest rates won’t drop until June, so what are you going to do between now and June to nurture your sphere, find those listings and beat out the competition before potential chaos ensues.
Now’s the time. Until next month…
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Catch up on the most recent Home Sales Predictor reports:
February 2024 Home Sales Predictor
January 2024 Home Sales Predictor
December 2023 Home Sales Predictor