1. A HEALTHY REAL ESTATE MARKET DRIVES MANY CONSUMER SECTORS
REAL ESTATE 2018 PROFILER
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A HEALTHY REAL ESTATE MARKET DRIVES MANY CONSUMER SECTORS
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2. MULTIPLE CHALLENGES TO HOMEOWNERSHIP
MULTIPLE CHALLENGES TO HOMEOWNERSHIP
The consensus among most housing experts is the market continues to recover from the recession, but affordability is a barrier for many individuals and families who want to buy a home, especially on the East and West coasts.
The caps on the mortgage-interest and property tax deductions for future home sales included in the tax reform bill Congress passed during December 2017 are very likely to reduce the number of people who can afford to buy a home.
Another volatility factor is the difficulty of building more new homes. There is a shortage of construction workers, fewer lots are available, the costs of building materials are increasing and construction-loan dollars are tightening.

3. MIXED RESULTS FOR RECENT HOUSING METRICS
MIXED RESULTS FOR RECENT HOUSING METRICS
According to the US Census Bureau, January housing starts were a seasonally adjusted annual rate (SAAR) of 1.33 million, which is an 9.7% increase from December 2017 (1.21 million) and a 3.7% increase from January 2017 (1.24 million).
The purchase of newly built, single-family homes decreased 7.8% during January 2018; however, this sector represents a small portion of all US home sales. The winter weather in the Northeast and South was the primary cause and is not considered a major trend.
The National Association of REALTORS®’ Pending Home Sales Index declined to during January, compared to for December The January index is 3.8% less than January and the lowest since October 2014.

4. MORTGAGE RATES REMAIN LOW, BUT INCREASING
MORTGAGE RATES REMAIN LOW, BUT INCREASING
The Mortgage Bankers Association and the National Association of REALTORS® agree that a 30-year, fixed-rate mortgage will be 4.5%–4.6% during 2018, while Realtor.com is predicting an average of 4.6%, increasing to 5.0% by the end of the year.
For the week of Feb. 28–March 6, 46% of a panel of mortgage experts said they expect mortgage rates will increase during the first part of March Recent increases in inflation and the likelihood of multiple Fed rate hikes during the year are the drivers.
As of 2/28/18, a 30-year, fixed-rate mortgage averaged 4.57%, which has been increasing since the first week of the year; however, by comparison, the February 1995 rate was 8.46%; 2000, 7.93%; 2005, 5.15%; and 2010, 4.37%.

5. REALTORS’ CONFIDENCE GOOD FOR BUSINESS
REALTORS’ CONFIDENCE GOOD FOR BUSINESS
According to the January 2018 REALTORS® Confidence Index, the Buyer Traffic Index was 69, compared to 63 for January 2017, and the Seller Traffic Index was 44, compared to 41 for January Indices greater than 50 indicate a strong market.
The REALTORS® Confidence Index – Six-Month Outlook Current Conditions was 74 for detached, single-family homes, 61 for townhomes and 60 for condominiums.
The average property was on the market for 42 days during January 2018, compared to 50 days during January The average number of offers written per client was 2.1 and 33% of properties sold at the original price or at net premium from listing price.

6. A PROFESSION WITH MANY OPPORTUNITIES FOR WOMEN
A PROFESSION WITH MANY OPPORTUNITIES FOR WOMEN
According to the 2017 Member Profile from the National Association of REALTORS®, 63% of REALTORS were women, with the typical REALTOR® 53 years of age, a Caucasian American woman who attended college and was a homeowner.
As of 2016, almost 90% of all members of the National Association of REALTORS® were independent contractors affiliated with a local broker. For the vast majority of REALTORS®, real estate is their second, third or subsequent career.
REALTORS® with 16 or more years of experience earned a median gross income almost twice as much as all REALTORS®, or $78,850 and $42,500, respectively.

7. PRIME MARKETS FOR SALES
PRIME MARKETS FOR SALES
Serenbe, an Atlanta neighborhood with 300 homes and 600 residents, represents a significant trend, known as a wellness community. There are no driveways, trash is placed in underground receptacles and there is a 25-acre organic farm.
As of 2017, the North American market for wellness communities was $55.0 billion, with a CAGR (Compound Annual Growth Rate) of 6.4% and 372 projects in development.
According to research from GOBankingRates, the top-5 US cities with high-paying jobs and a low cost of living were Oklahoma City, OK; Kansas City, MO; Lexington, KY; Phoenix, AZ; and Durham, NC.

8. ADVERTISING STRATEGIES
ADVERTISING STRATEGIES
Although realtors spend most of their ad dollars in digital media, it’s important that they reinforce those messages with complementary media, such as TV flights during the best seasons of the year and outdoor for branding and direct mail, which does attract Millennials.
With a significant decline in new multifamily construction, many property management companies could find TV a good branding channel in a more competitive market.
Rental property managers may also find it beneficial to work with realtors who may have prospects who can’t yet qualify for a home, but who have the income to move into a more upscale rental property until their financial situation improves.

9.
NEW MEDIA STRATEGIES
With realtors spending so many ad dollars in digital, promote the value of allocating some of those dollars for your station’s Website to reinforce their social media exposure, cross link with those posts and reach audiences they might miss on social media.
Even the majority of younger Baby Boomers start the home-buying process with online searches for properties, so realtors should consider highlighting homes in digital media to which younger Baby Boomers might want to downsize.
Realtors with an excellent understanding of the smart-home technology market and the latest devices and who share their knowledge via blogs, newsletters and social media are apt to gain an advantage with younger tech-savvy buyers.

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