It's November. The air is crisp, the holidays are heading our way, and homes continue to be bought and sold. This has been a year of complete uncertainty, but thankfully the real estate industry has bounced back and continues to show its resiliency.
November/December Home Sales Predictor
We’re back this month for our latest predictions using our Homes Sales Predictor. Using the activity inside our presentation tool, MoxiPresent, we are able to look two months out and predict the number of home sales.
Based on the activity we saw during September and October, we are predicting there will be 490,000 homes sales in November and 519,000 in December.
Some thoughts from MoxiWorks CEO, York Baur on these predictions and the market:
“The fundaments of residential real estate remain very strong – after a difficult Q2 as we entered the pandemic, the market has come roaring back in Q3, and we expect that to continue well into 2021.
While you may read headlines about looming foreclosures and other negative opinions, I believe that the market will remain buoyant through next year based on three fundamental factors:
Demand from people who are changing their housing need or location based on the work-from-anywhere trend, the fact that Millennials and Generation Z are entering the housing market in large numbers, and the prospect of continued low interest rates.
While low inventory remains a constraint, our leading indicators show that agents were in front of more consumers in October, talked to them about listing their homes, and that should bode well for December closings, as well as creating further momentum for the beginning of 2021.”
As York says, we expect to see the market continue its recovery and to remain strong. Agents must continue to stay in flow with their sphere of influence to help push to create more inventory.
We’ll see you in December!
The Home Sales Predictor is a brand-new set of prediction data that dives into the number of presentations created and the correlated number of U.S. home sales. This data is provided by MoxiWorks with insights from their MoxiPresent product.
We’ll be back each month to make our predictions on what’s to come and to also reflect on the predictions we’ve made. Sign-up below to receive these predictions in your inbox each month.