Metrics We Are Focused on in Local Real Estate Markets:
1. Velocity. Number of segment showings and the impact on pricing, and number of accepted contracts.
2. Homes Under Contract. We are seeing closing dates pushed out 60-75 days, if school was in session this would be the norm. Due to layoffs, furloughing and the fluid mortgage environment we are watching deal fall out closely. In chaos time creates increases uncertainty for sellers.
3. Pricing. Price reductions are not be a part of any effective marketing strategy. Price reductions create problems for deals for in the pipeline, reduce neighbors value and can slow recovery time.
4. Mortgage Markets, forbearance and default rates, underwriting guidelines and time frames.
A keen understanding these items allows our clients to give their clients a higher level of certainty in todays market.