Let’s face it; the 2020 real estate marketing trends have been like no other we’ve seen. There have been plenty of changes this year, along with plenty of opportunities.
One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales to increase by 8-12% next year. If the 2020 real estate marketing trends are any indication, there’s strong evidence that he will be right.
ShowingTime, a leading showing software and market stat service provider for the residential real estate industry, just reported on their latest the ShowingTime Showing Index:
Image Credit: Keeping Current Matters
“Homebuyer traffic jumped again in July, recording a 60.7 percent year-over-year increase in nationwide showing activity.”
That means 60% more buyers set appointments to see homes than there were at this same time last year. The number of potential purchasers was also up dramatically in every region of the country:
The Northeast was up 76.6%
The West was up 56.7%
The Midwest was up 52.1%
The South was up 46.7%
The Housing Market Is Showing a ‘V’ Type Recovery
ShowingTime also indicates the real estate market has already come back from the downturn earlier this year caused by shelter-in-place orders. Here are the year-over-year numbers for each region every month. (See graph below): Homebuyer Traffic Is on the Rise
The 2020 real estate marketing trends indicate that we’re way ahead of where we were at this time last year. This data validates the thoughts of Frank Martell, President and CEO of CoreLogic, who recently noted:
“On an aggregated level, the housing economy remains rock solid despite the shock and awe of the pandemic.”
If you’re thinking about selling your property, the 2020 real estate marketing trends can very well work in your favor. This may be a great time to get the best price and the most favorable terms. If you’re selling your property, you could even see buyers competing for your home, should you work with an experienced agent.
We help sellers & buyers like you find & sell great properties every day. Book a consultation, and one of our talented team members will reach out to go over your goals.