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Anthony Lamacchia: You should be extremely excited. Here’s why. We are now into the number one time of year for homebuyers to buy homes. There’s a bonus reason this year. I’m going to talk about that in a minute. Anthony Lamacchia here with Crush It in Real Estate. Now, why is this the best time of year? Because demand is down and inventory is climbing up. I’ve been monitoring inventory, I’ve been watching it, and it is up everywhere in the country. Absolutely everywhere, especially in places like Massachusetts where we have more seasonality to the inventory fluctuation.
I actually filmed the video just yesterday down in my office at my desk where I showed the flow of inventory and I showed how we are at the highest level of the year. That’s the biggest reason that you as a realtor and your buyers should be thrilled and excited to buy a home in the next three months. It’s your job as a realtor to explain that to them so that they see that because home buyers, they fall into the same exact habits every year. The clock strikes midnight to a new year, everybody wants to buy a home. The problem is three, four, or five months later is when sellers list their homes in droves. That’s what starts every year out and creates such an imbalance in the market.
Now, we’re still in a seller’s market. There’s no denying it, but it’s dramatically better than it was. Think where things were at 6, 5, 4 months ago. There were 200 buyers per property, 30 to 60 offers per property. We’re still seeing some of that, but it’s much less. We’re even seeing some sellers get humbled and realize, ”Wait, I can’t just name my price. That’s great news. The other thing that makes this a great time is interest rates. Interest rates are now at six months lows. Talk about perfect timing. Now we’re in the best time of year to buy a home because of inventory and the way it flows and interest rates as an additional bonus went back down again.
We’re back in the mid twos. That’s great news, but it’s critically important that all of you realtors communicate this to your buyers and don’t just do it verbally. Make sure that you’re actually showing them. If you have a buyer that got fatigued and aggravated and heck you might’ve gotten fatigued and aggravated through this spring, get with them. Show them an inventory report of your market, use an on-market snapshot, use a monthly housing report. Use the video that I put out yesterday, we’re going to put a link to it in the comments where I show what’s going on with inventory.
Show that to them, third-party sometimes works better. However you want to do it, just make sure you tell and show them why this is the best time of year to buy a home. This time of year, from now till about November, I always say is the best time of year to buy. I actually feel that this is the best time in two years to buy a home, in about 20 months. 20 months ago was the last time it was this good of a time to buy a home. Make sure you as an agent are communicating that to your buyers. Make sure they see that, make sure to get them re pre-approved, get them re-engaged, explain to them how so much more inventory is coming on. It’s your job.
It’s our job to be advisors to show people everything. I hope that makes sense. Check out that video. Happy home selling, my friends. Have a good day.