It is projected that 80% of future residential growth will be in suburban areas. The real estate market for homeownership in 2016 was at a 50-year low. Clearly that growth will come from a dip in the market, yet it is expected to rise. Real estate agents would do well to get their business practices in order before the next housing market increase. Using the right real estate software could be a beneficial tool in this pursuit.
Comparative Market Analysis or CMA Tools.
Comparative market analysis is a common tool used by realtors. The report itself can be long or short depending on the realtor and the market conditions. Essentially, a CMA report is just a means of seeing how the price of one home compares to other homes on the market or that were recently sold in the area. Real estate software options offer this report as it continuously updates to reflect new market data.
Real Estate Software: What Does It Do?
Real estate software is actua
Recent projections and data have predicted that over the next ten years, there is going to be 80% of all residential growth taking place within suburban communities. Now, this may seem like a random statistic but it is incredibly important to how the real estate market will be affected. Because of this strong growth, homes will be more expensive in residential suburban areas according to comparative market analysis.
Millennials and younger generations managed to comprise just about 34% of all home buyers in just a year of 2017 alone. According to real estate experts, this percentage is going to increase over the years at a high rate. This is mostly due to the fact that younger people are looking to find their homes.
According to the National Association of Realtors, 56% of buyers 36 years old and younger found their homes online. So this means that younger people are going to better understand comparative market analysis than other generations because they can use Continue Reading No Comments