Market News June 20

Market Updates

Buyers Caught a Break in May


Potential home buyers finally saw conditions improve last month. Less competition translated into 3.5% more sales than in April, with plenty of inventory to check out. Homes for sale hit a post-2020 high of 1.3 million listings. Sellers also did their part, with 26% cutting prices.

While the market hasn't fully tipped in favor of buyers, competition has cooled. Homes are currently spending a median of 17 days on the market, which is up four days from last year.

As the S&P 500 recovered in May and consumer confidence rebounded, sales are expected to keep improving. However, affordability is still problematic for many buyers.1

Postcards Still Pack a Punch


While it's essential to maintain an online presence, it's also important to consider other ways to reach prospects. This is because many of them limit their online time to watching videos, gaming, or everyday tasks like paying bills. In addition, more users are reducing their surfing activities as part of a "digital detox."

Another way to introduce yourself to prospects is by direct mail. Postcards have several distinct advantages over online marketing, including these:

  • While prospects may forget to bookmark your site or become distracted online, a postcard has staying power.
  • Over 70% of consumers say they prefer direct mail as it's more tangible than online ads, and 75% say they remember receiving them.
  • Unlike email, there's no risk of your postcard confronting a Spam filter.
    • You can choose the exact neighborhoods/zip codes where you want to generate more business.
  • Your return on investment (ROI) can be as high as $42 for every $1 you spend.
Best of all, we can share the costs of postcard campaigns as I have access to a library of colorful, RESPA-compliant postcards that are compatible with the USPS's Every Door Direct Mail (EDDM) services. By co-branding these with our contact details, prospects will know who can help them find and finance their next home. If we're not already connected within my marketing system, contact me today to get started. If you are, check out what's currently available or call me to discuss your next campaign.2

These Colors Can Boost Your Sellers' Profits


While many sellers feel it's safer to repaint their home's interiors in white or beige, it can pay to check out this year's trends. A recent Zillow survey found that buyers may offer as much as $2,590 more for a home that features this year's bolder colors.

A Texas agent remarked: "We've seen a clear shift toward nature-inspired tones that add cozy, organic warmth." Here are some winners.

  • Homes with an olive-green kitchen are attracting more buyer interest than any other color.
  • Navy blue bedrooms were a hit with buyers, boosting sale prices by up to $1,815.
  • Bathrooms with mid-town brown paint jobs also bumped up final prices.
  • Here's a surprise: Buyers were keen on living rooms painted dark gray. This boosted offer prices by over $2,500.
Other intel from this study found that 2025 buyers are often put off by bright primary colors that were popular a few years ago.3

More Homes Selling Below Asking Price


In addition to an increasing number of homes for sale, buyers are enjoying more negotiating power from a different source: sales numbers.

Pending home sales are down 1% year over year, while numbers of new listings are still rising. This has affected sales prices, with fewer (28%) selling above the asking price this year. During 2024, 32% of homes sold above the asking price.

In addition, a sizeable gap has recently appeared between median list and sale pricing. The median sale price sank to $397,000, a $28,950 discount (-7%) from the previous median list price of roughly $425,950.4

Boost Your YouTube Views with These Tips

If you're thinking a crash course in YouTube algorithms is the only way to get more visitors, relax. You can increase traffic to your channel by following these simple tips.

Get to know your audience. Look at the Audience tab in YouTube analytics to see which videos are attracting the most (and least) interest. Check out comments as often as possible, as these can tell you what viewers like most about your videos. Even if your visitors don't remember if you were discussing bungalows or condos, they'll remember how you made them feel.

Promote your popular talents. YouTube is chock-full of videos uploaded by real estate agents. This is why it's vital that viewers know what to expect when they subscribe to your page. What will they see each time you upload a new video? Will they get more helpful insights into your territory? Will you be sharing the same wit that has already earned you a lot of thumbs-up and positive comments?

Stay focused. YouTube algorithms are fine-tuned to suggest videos based on specific interests. For example, viewers who watch salsa videos won't watch generic dance videos, so YouTube quickly learns to suggest more salsa videos to these viewers. As a real estate agent, you'll want to keep delivering videos that continue to provide new reasons for moving into a specific neighborhood, buying a fixer-upper, or applying for down payment assistance.5

Sources: 1nationalmortgageprofessional.com, 2dataaxleusa.com, 3zillow.com, 4redfin.com, 5buffer.com