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How To Know the Market is Changing

Find out how to tell if something is a market fluke or long-term trend.

How can you tell the market is changing? As Realtors in Central Iowa, we’re on the front lines of our state’s real estate market, so we need to be aware of any imminent changes. Let’s talk about how to tell if something is a fluke or a long-term trend. 

First off, our market tends to follow the trends of bigger markets at a delayed pace. Check the headlines of different markets. Based on talking to peers in other areas, we’ve found that if a trend is sweeping Florida and California right now, we can expect to see it in our market in about 18 months. 

This is a good general rule, but it speaks to a larger point: It’s important to talk to other Realtors across the country. Usually, the farther away you get from Central Iowa, the more different their market will be, but that doesn’t mean they don’t have something valuable to say. 

“Make sure you talk to many other agents in different markets.”

Another way you can gauge the health of our market is by getting a feel for your office environment. How busy have things been lately? Are people fighting for work, or is everyone swamped? Are people happy, or are they stressed? If you work from home, this tip is more difficult to implement, but once again, you can speak to other Realtors and see what they have to say.  

Finally, you can check the numbers. We saved this one for last since numbers don’t always relate to what’s happening on the ground. Numbers are only as good as their interpretation, so make sure any data analysis you do is tempered by your and other agents’ experiences. 

If you have any questions about today’s video, please call or email us. We’d love to help you!

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