Home sales and inventory. It’s all anyone in the real estate world can talk about the last few months.
And, rightfully so.
Lack of inventory means a decrease in home sales, a key headwind facing the otherwise impressive housing rebound we’ve seen since the pandemic began.
But, we have some good news. Based on leading indicators inside our products we are able to make predictions for home sales, two months into the future.
Introducing the Home Sales Predictor
We’ve found that the activity inside MoxiWorks’ industry-leading real estate presentation builder, MoxiPresent, correlates to the number of houses sold nationally. We are able to make predictions two months out on how many homes will sell nationally, based on agent activity.
In the Home Sales Predictor graph below you will see both the activity inside MoxiPresent over the last two years, as well as the number of U.S. home sales. With over 95% of the U.S. home sales footprint in our system and over 10% of agents in the U.S. using MoxiPresent, we are able to make this correlation and prediction.
So, what does this mean for you and your brokerage? Whether it’s buyer or seller presentations, property reviews, or any other type of presentation, the number of presentations that are created correlates to the inventory and listings in your communities.
“Brokerages and their agents are in the unique position to help create more inventory by being proactive with consumers,” said York Baur, CEO, MoxiWorks. “When an agent presents to a buyer or sell, or to a consumer on the value of their home and what’s going on in the market, they are creating movement in the market. With more than one million presentations having been created using MoxiPresent we have the data to back this up.”
October & November Predictions
Based on the activity inside MoxiPresent in August and September we predict there will be roughly 541,000 home sales in October and 534,000 in November. And note, while it’s based on MoxiWorks’ proprietary and national MLS data, it doesn’t necessarily predict the results in any specific regional or local geography.
Ali Rae Lundberg, MoxiWorks Data Analyst shared, “We of course know that any data from roughly March-June across the board skews us away from any sort of normalcy. But, after removing the COVID months from our regression model, our prediction for September came within 1% of the actual number of sold listings for September.”
For some, 2020 has been a really tough year. For others, they were able to take advantage of this pandemic, adopt the necessary technology, and have been thriving. No matter what kind of year you are having, what we’ve always known and now have proof of, is that the more presentations your agents can produce, the more inventory we can create and the more business we can close.
Let’s sell more homes together.
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.