Donna Hermsen Broker/Realtor

[donnahermsen]

At the beginning of the year, industry forecasts called for home price appreciation to slow to about half of the double-digit increase we saw last year. The thinking was that inventory would increase from record-low levels and put an end to the bidding wars that have driven home prices up over the past twelve months. However, that increase in inventory has yet to materialize. The National Association of Realtors (NAR) reports that there are currently 410,000 fewer single-family homes available for sale than there were at this time last year. This has forced those who made appreciation forecasts this past January to amend those projections. The Mortgage Bankers Association, Fannie Mae, Freddie Mac, the National Association of Realtors, and Zelman & Associates have all adjusted their numbers upward after reviewing first quarter housing data, from an average 5.3% to a new average 7.7%. Even with the increases, the updated projections still don’t reach the above 10% appreciation levels of 2020. However, a jump in the average projection from 5.3% to 7.7% after just one quarter is substantial. Demand will remain strong, so future appreciation will be determined by how quickly listing inventory makes its way to the market. Entering 2021, there was some speculation that we might see price appreciation slow dramatically this year. Today, experts believe that won’t be the case. Home values will remain strong throughout the year. #sellingmadisonhomes #expertanswers #purchasingpower #buyingpower #homepriceappreciation #affordability #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters (at Madison, Wisconsin) https://www.instagram.com/p/COSuH5XDSo5/?igshid=4i26mem8mtkm

[donnahermsen]

View this post on Instagram

The question many homebuyers are facing this year is, “Why is it so hard to find a house?” We’re in the ultimate sellers’ market, which means real estate is ultra-competitive for buyers right now. The National Association of Realtors (NAR) notes homes are getting an average of 4.8 offers per sale, and that number keeps rising. Why? It’s because there are so few houses for sale. While many homeowners paused their plans to sell during the height of the pandemic, this isn’t the main cause of today’s huge gap between supply and demand. Sam Khater, Vice President and Chief Economist at Freddie Mac, Economic Housing and Research Division, shares, “The main driver of the housing shortfall has been the long-term decline in the construction of single-family homes . . . That decline has resulted in the decrease in supply of entry-level single-family homes or, ’starter homes.’” The number of newly built homes is disproportionately lower than the rate of household formation, which, according to the U.S. Census Bureau, has continued to increase. To catch up to current demand, Freddie Mac estimates we need to build almost four million homes. The good news is builders are working hard to get us there. If you’re planning to buy this year, the key to success will be patience, given today’s low inventory environment. DM me today to talk more about what’s happening in our area. #sellingmadisonhomes #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters (at Madison, Wisconsin) https://www.instagram.com/p/COOvDodDMDU/?igshid=1cu123hwi8znk

[donnahermsen]

at Madison, Wisconsin https://www.instagram.com/p/CK4gO6CDDax/?igshid=s9zphdrhkbc0

[donnahermsen]

What an honor to be recognized as 2020 Top Producers. We are blessed to be included in this prestigious group of agents. Thank you to all our clients, family, and friends who trust us to help them with their real estate needs. Our success is thanks to you. 🙏🏽 ❤ #TOPPRODUCER #sellingmadisonhomes #weloveourclients #workwiththebest #realtor #realestate #realestateagent (at Madison, Wisconsin) https://www.instagram.com/p/CKw304hDq3M/?igshid=j8t1fda2s4g0

[donnahermsen]

The housing market was a shining star in 2020, fueling the economic turnaround throughout the country. As we look forward to 2021, can we expect real estate to continue showing such promise? Here’s what four experts have to say about the year ahead. Lawrence Yun, Chief Economist, National Association of Realtors (NAR): “In 2021, I think rates will be similar or modestly higher, maybe 3%...So, mortgage rates will continue to be historically favorable.” Danielle Hale, Chief Economist, realtor.com: “We expect sales to grow 7 percent and prices to rise another 5.7 percent on top of 2020’s already high levels.” Robert Dietz, Senior Vice President and Chief Economist, National Association of Home Builders (NAHB): “With home builder confidence near record highs, we expect continued gains for single-family construction, albeit at a lower growth rate than in 2019. Some slowing of new home sales growth will occur due to the fact that a growing share of sales has come from homes that have not started construction. Nonetheless, buyer traffic will remain strong given favorable demographics, a shifting geography of housing demand to lower-density markets and historically low interest rates.” Mark Fleming, Chief Economist, First American: “Mortgage rates are expected to remain low for the foreseeable future and millennials will continue forming households, keeping demand robust, even if income growth moderates. Despite the best intentions of home builders to provide more housing supply, the big short in housing supply will continue into 2021 and likely keep house price appreciation flying high.” Whether you’re ready to buy or sell a home in 2021, if you’re planning to take advantage of the market this winter, DM me to learn about the opportunities available in your local market. #sellingmadisonhomes #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday (at Madison, Wisconsin) https://www.instagram.com/p/CJe14WpDvZY/?igshid=1a0yov79b89b9

[donnahermsen]

View this post on Instagram

Around this time each year, many homeowners decide to wait until after the holidays to sell their houses. Similarly, others who already have their homes on the market remove their listings until the spring. Let’s unpack the top reasons why selling your house now, or keeping it on the market this season, is the best choice you can make. This year, buyers want to purchase homes for the holidays, and your house might be the perfect match. Here are seven great reasons not to wait to sell your house this holiday season: >>Buyers are active now. Mortgage rates are historically low, providing motivation for those who are ready to get more for their money over the life of their home loan. >>Purchasers who look for homes during the holidays are serious ones, and they’re ready to buy. >>You can restrict the showings in your house to days and times that are most convenient for you, or even select virtual options. >>Homes decorated for the holidays appeal to many buyers. >>Today, there’s minimal competition for you as a seller. There just aren’t enough houses on the market to satisfy buyer demand, meaning sellers are in the driver’s seat. >>The desire to own a home doesn’t stop during the holidays. Buyers who have been searching throughout the fall and have been running into more and more bidding wars are still on the lookout. >>This season is the sweet spot for sellers, and the number of listings will increase after the holidays. More than ever, this may be the year it makes the most sense to list your house during the holiday season. DM me to determine if selling now is your best move. #sellingmadisonhomes #Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #justsold #keepingcurrentmatters (at Madison, Wisconsin) https://www.instagram.com/p/CIBXFN1D7sP/?igshid=1vr2hht8lb9j9

[donnahermsen]

If you’ve been working from home this year, chances are you’ve been at it a little longer than you initially expected. Businesses all over the country have figured out how to operate remotely to keep their employees healthy, safe, and productive. For many, it may be carrying into next year, and possibly beyond. While the pandemic continues, Americans are re-evaluating their homes, floorplans, locations, needs, and more. Some need more space, while others need less. Whether you’re renting or own your home, if remote work is part of your future, you may be thinking about moving, especially while today’s mortgage rates are so low. A recent study from Upwork notes: “Anywhere from 14 to 23 million Americans are planning to move as a result of remote work.” To put this into perspective, last year, 6 million homes were sold in the U.S. This means roughly 2 – 4X as many people are considering moving now, and there’s a direct connection to their ability to work from home. In fact, almost half of the people who are citing working from home as their primary reason for making a move are willing to look for a home more than 4 hours away from where they live now. In some cases, moving a little further away from your current location might mean you can get more home for your money. If you have the opportunity to work remotely, you may have more options available by expanding your search. Upwork also indicates, of those surveyed: “People are seeking less expensive housing: Altogether, more than half (52.5%) are planning to move to a house that is significantly more affordable than their current home.” Whether you can eliminate your daily commute to the office, or you simply need more space to work from home, your plans may be changing. If that’s the case, DM me to assess your evolving needs and determine your path together. #sellingmadisonhomes #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts (at Madison, Wisconsin) https://www.instagram.com/p/CHrPhimjB1U/?igshid=71qevemgml0f

[donnahermsen]

For years, real estate has been considered the best investment you can make. A major reason for this is due to the net worth a household gains through homeownership. In fact, according to the 2019 Survey of Consumer Finance Data from the Federal Reserve, for the average homeowner, “…a primary home accounts for 90% of the total wealth of a family in the U.S.” Most large purchases, like cars and appliances, depreciate in value as they age, so it’s understandable to question how owning a home can increase wealth over time. In a simple equation, the National Association of Realtors (NAR) explains how the combination of paying your mortgage and home price appreciation grow overall wealth: Principal Payments + Price Appreciation Gains = Housing Wealth Gain. As home values increase and you make payments toward your home loan, you’ll gain wealth through equity. The same article from NAR also addresses how wealth gains tend to play out over time, stating, “Housing wealth accumulation takes time and is built up by paying off the mortgage debt and by price appreciation. And while home prices can fall, home prices tend to recover and go up over the longer term. As of September 2020, the median sales price of existing home sales was $311,800, a 35% gain since July 2006 when prices peaked at $230,000.” Taking a look at how equity has grown for the typical homeowner, it’s clear to see how real estate is a sound long-term investment. NAR notes, “Nationally, a person who purchased a typical home 30 years ago would have typically gained about $283,000 as of the second quarter of 2020.” Whether you’re a current homeowner planning to put your equity toward a new home or have hopes of buying your first home soon, homeownership will always be a great opportunity to build your net worth and overall wealth. Owning a home is truly an investment in your financial future. #sellingmadisonhomes #realestate #wealth #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor (at Donna Hermsen & Dan O'Brien Real Estate / Bunbury & Associates) https://www.instagram.com/p/CHeXBNWjTuN/?igshid=1dwqfym60zrld

[donnahermsen]

Today, on Veterans Day, we honor those who have served our country and thank them for their continued dedication to our nation. In the United States, there are many valuable benefits available to Veterans, including VA home loans. For over 75 years, VA home loans have provided millions of Veterans and their families the opportunity to purchase their own homes. As we consider the full impact of VA home loans, it’s important to both understand these great options for Veterans and to share them with those we know who may be able to benefit most. For a variety of different reasons, many Veterans don’t use their VA home loan options, so being knowledgeable about what’s available and how they work may be a game-changer for many. Facts about 2019 VA Home Loans (most current data): >>624,546 home loans were guaranteed by the Veterans Administration. >>306,879 VA home loans were made without a down payment. >>2,055 grants totaling $118 million were provided to help seriously disabled Veterans purchase, modify, or construct a home to meet their needs. VA Home Loans Often Offer: >>No down payment options as long as the sales price isn’t higher than the home’s appraised value. >>Better terms and interest rates than loans from other lenders. >>Fewer closing costs, which may be paid by the seller. The best thing you can do today to celebrate Veterans Day is to share this information with those who can potentially benefit from these loan options. DM me today to discuss your questions about VA home loan benefits. Thank you for your service. #sellingmadisonhomes #realestate #veteransday #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #keepingcurrentmatters (at Madison, Wisconsin) https://www.instagram.com/p/CHeWTxvDyA7/?igshid=mmmtqbtzx6nw

[donnahermsen]

View this post on Instagram

As the economy recovers from this year’s health crisis, the housing market is playing a leading role in the turnaround. It’s safe to say that what we call “home” is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later. Housing, therefore, has thrived in an otherwise down year. Today’s high buyer demand combined with low housing inventory means we’re seeing home prices appreciate at an above-average pace. This demand is being driven by those who want to take advantage of historically low mortgage rates. According to Freddie Mac, "The record low mortgage rate environment is providing tangible support to the economy at a critical time, as housing continues to propel growth." These factors are driving a positive impact on the economy as a whole. According to the National Association of Realtors (NAR), the real estate industry provided $3.7 billion dollars of economic impact to the country last year. To break it down, in 2019, the average newly constructed home contributed just over $88,000 per build to local economies. Across the country, real estate clearly makes a significant impact. In addition, last week, the Bureau of Economic Analysis announced the U.S. Gross Domestic Product increased at an annual rate of 33.1% in the 3rd quarter of this year, after decreasing by 31.4% in the second quarter. There’s no doubt the growing economy is being fueled in part by the soaring housing market. Experts forecast this housing growth to carry into 2021, continuing to make a big impact on the economy next year as well. The American Dream of homeownership has continued to thrive in the midst of this year’s economic downturn, and “home” has taken on a new meaning for many of us during this time. Best of all, the housing market is making a significant impact as the economy recovers. #sellingmadisonhomes #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice https://www.instagram.com/p/CHOeWvKD5Va/?igshid=19g303omljbeh

[donnahermsen]

View this post on Instagram

As the current forbearance mortgage relief options come to an end, many are wondering if we’ll face a foreclosure crisis next year. This is understandable, especially for those who remember the housing crisis that began in 2008. The reality is, plans have been put in place through forbearance to ensure history doesn’t repeat itself. Many homeowners are concerned that they’ll have to pay the deferred payments back in a lump sum payment at the end of forbearance. Thankfully, that’s not the case. Fannie Mae explains, “You don’t have to repay the forbearance amount all at once upon completion of your forbearance plan…Here’s the important thing to remember: If you receive a forbearance plan, you will have options when it comes to repaying the missed amount. You don’t have to pay the forbearance amount at once unless you are able to do so.” Many who initially applied for forbearance didn’t end up needing it. For those who are still in forbearance and unable to make their payments, foreclosure isn’t the only option left. In their Homeowner Equity Insights Report, CoreLogic indicates, “In the second quarter of 2020, the average homeowner gained approximately $9,800 in equity during the past year.” Many homeowners have enough equity in their homes today to be able to sell their house instead of foreclosing. Selling and protecting the overall financial investment may be a very solid option for many homeowners. As Ivy Zelman, Founder of Zelman & Associates, mentioned in a recent podcast, “The likelihood of us having a foreclosure crisis again is about zero percent.” If you’re currently in forbearance or think you should be because you’re concerned about being able to make your mortgage payments, reach out to your lender to discuss your options and next steps. Having a trusted and knowledgeable professional on your side to guide you is essential in this process and might be the driving factor that helps you stay in your home. #sellingmadisonhomes #homes #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent (at Madison, Wisconsin) https://www.instagram.com/p/CHOde6IDEvE/?igshid=1qhhd806gg09q

[donnahermsen]

As we enter the final months of 2020 and continue to work through the challenges this year has brought, some of us wonder what impact continued economic uncertainty could have on home prices. Looking at the big picture, the rules of supply and demand will give us the clearest idea of what is to come. Due to the undersupply of homes on the market today, there’s upward pressure on prices. Consider simple economics: when there is high demand for an item and a low supply of it, consumers are willing to pay more for that item. That’s what’s happening in today’s real estate market. The housing supply shortage is also resulting in bidding wars, which will also drive price points higher in the home sale process. There’s no evidence that buyer demand will wane. As a result, experts project price appreciation will continue over the next twelve months. I hear many foreclosures might be coming to the market soon. Won’t that drive prices down? Some are concerned that homeowners who entered a mortgage forbearance plan might face foreclosure once their plan ends. However, when you analyze the data on those in forbearance, it’s clear the actual level of risk is quite low. Ivy Zelman, CEO of Zelman & Associates and a highly-regarded expert in housing and housing-related industries, was very firm in a podcast last week, “The likelihood of us having a foreclosure crisis again is about zero percent.” With demand high, supply low, and little risk of a foreclosure crisis, home prices will continue to appreciate. Originally, many thought home prices would depreciate in 2020 due to the economic slowdown from the coronavirus. Instead, prices appreciated substantially. Over the next year, we will likely see home values rise even higher given the continued lack of inventory of homes for sale. #sellingmadisonhomes #expertanswers #stayinformed #staycurrent #powerfuldecisions #confidentdecisions #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday https://www.instagram.com/p/CGxolhaDrw1/?igshid=o7uqh05db2at

[donnahermsen]

View this post on Instagram

Many housing experts originally voiced concern that the mortgage forbearance program (which allows families impacted financially by COVID to delay mortgage payments to a later date) could lead to an increase in foreclosures when forbearances end. Some originally forecasted that up to 30% of homeowners would choose to enter forbearance. Less than 10% actually did, and that percentage has been dropping steadily. Black Knight recently reported that the national forbearance rate has decreased to 5.6%, with active forbearances falling below 3 million for the first time since mid-April. Many of those still in forbearance are actually making timely payments. Christopher Maloney of Bloomberg Wealth recently explained, “Almost one quarter of all homeowners who have demanded forbearance are still current on their mortgages…according to the latest MBA data.” However, since over two million homeowners are still in forbearance, some experts are concerned that this might lead to another wave of foreclosures like we saw a little over a decade ago during the Great Recession. Here is why this time is different. >>There will be few strategic defaults Today, the vast majority of homeowners have significant equity in their homes. This dramatically decreases the possibility of strategic defaults. >>There are other options that were not available the last time -Refinance repay -Repayment plan -Deferral program -Modification flex modification Homeowners who can’t catch up on past payments and don’t qualify for the programs mentioned have two options: sell the house or let it go to foreclosure. Some experts think most will be forced to take the foreclosure route. However, an examination of the data shows that probably won’t be the case. Some analysts are talking about future foreclosures reaching 500,000 to over 1 million. With the options today’s homeowners have, that doesn’t seem likely. #sellingmadisonhomes #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #realestateagents #realestatetips (at Madison, Wisconsin) https://www.instagram.com/p/CGnlv4ZDz5E/?igshid=17hqkx0ws44kb

[donnahermsen]

View this post on Instagram

How long have you lived in your current home? If it’s been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers by NAR, in 2019, homeowners were living in their homes for an average of 10 years. That’s a long time to time to be in one place, considering the average length of time homeowners used to stay put hovered closer to 6 years. With today’s changing homebuyer needs, especially given how the current health crisis has altered our daily lifestyles, many homeowners are reconsidering where they’re at and thinking about moving to a home with more space for their families. Here’s why it might be a great time to make that happen. The real estate market has changed in many ways over the past 10 years, and current homeowners are earning much more equity today than they used to have. According to CoreLogic, in the first quarter of 2020 alone, the average homeowner gained approximately $9,600 in equity. If you’re considering selling your house right now, you may have accumulated more equity to put toward a move than you realize. Dialing back 10 years, many homeowners also locked in a fairly low mortgage rate. In 2010, the average rate was only 4.09%. This motivated homeowners to stay in their houses longer than usual to keep their rate low, rather than moving. Just last Thursday, however, average mortgage rates hit a new historic low at 2.86%. As a homeowner, you have a huge opportunity to move up right now. Whether you want to save more each month or get more home for your money based on your family’s changing needs, it’s a great time to DM me to discuss the market in our area. Buyers are actively looking for more homes to buy, and you can win big by making a move if the time is right for you. #sellingmadisonhomes #expertanswers #purchasingpower #buyingpower #homepriceappreciation #affordability #realestate #homevalues #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice (at Madison , Wisconsin) https://www.instagram.com/p/CFKZTxFjsev/?igshid=uidv3qrm2ux6

[donnahermsen]

View this post on Instagram

Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow, “In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.” With a new perspective on homeownership, here are some of the top reasons people are reconsidering where they live and making moves this year. 1. Working from Home: Lawrence Yun, Chief Economist for NAR, notes, “With the sizable shift in remote work, current homeowners are looking for larger homes and this will lead to a secondary level of demand even into 2021.” 2. Virtual Schooling: As many schools are reopening with remote learning options, it may be time to find a larger home to provide your children with the same kind of quiet room to focus on their schoolwork, just like you likely need for your office work. 3. A Home Gym: Having room to maintain a healthy lifestyle at home – mentally and physically – may prompt you to consider a new place to live that includes space for at-home workouts. 4. Outdoor Space: Especially for those living in an apartment or a small townhouse, this is a new priority for many as well. If you’re clamoring for extra space to accommodate your family’s changing needs, making a move may be your best bet, especially while you can take advantage of today’s low mortgage rates. Low rates are making homes more affordable than they have been in years. People are moving for a variety of different reasons today, and many families’ needs have changed throughout the year. If you’ve been trying to decide if now is the time to buy a new home, DM me to discuss your needs. #sellingmadisonhomes #realestate #homeownership #homebuying #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert (at Donna Hermsen & Dan O'Brien Real Estate / Bunbury & Associates) https://www.instagram.com/p/CFFo7oRDGqg/?igshid=1753r5ur8nruc

[donnahermsen]

View this post on Instagram

The word “home” is taking on a whole new meaning this year, and buyers are starting to look for new features as they re-think their needs and what’s truly possible. From more outdoor space to virtual classrooms for their children, buyers have a growing list of what they’d like to see in their homes. DM me today if your needs have changed and your wish list is expanding too. #sellingmadisonhomes #firsttimehomebuyer #opportunity #housingmarket #househunting #makememove #homegoals #houseshopping #housegoals #investmentproperty #emptynest #downsizing #locationlocationlocation #newlisting #homeforsale #renovated #starterhome #dreamhome #curbappeal #keepingcurrentmatters (at Madison, Wisconsin) https://www.instagram.com/p/CFFnfbDjkux/?igshid=kzzq8ac9bfyu

[donnahermsen]

View this post on Instagram

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. 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, “Home buyer traffic jumped again in July, recording a 60.7 percent year-over-year increase in nationwide showing activity.” That means there are 60% more buyers setting 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% ShowingTime also indicates the real estate market has already come back from the downturn earlier this year that was caused by shelter-in-place orders. 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 house, DM me to learn more about why this may be a great time to get the best price and the most favorable terms. #sellingmadisonhomes #Sellyourhouse #moveuphome #dreamhome #realestate #homeownership #realestategoals #realestatetips #realestatelife #realestatenews #realestateagent #realestateexpert #realestateagency #realestateadvice #realestateblog #realestatemarket #realestateexperts #instarealestate #instarealtor #realestatetipsoftheday #realestatetipsandadvice #justsold #keepingcurrentmatters (at Madison, Wisconsin) https://www.instagram.com/p/CFAy3_5jWJ6/?igshid=1ao7b7r9iwjgp