August 8th, 2019
Home prices around the country were on the rise in the second quarter. According to the National Association of Realtor’s most recent quarterly report found that home prices increased in 91% of the metros analyzed (162 of 178), which can very well be attributed, at least in part, due to slowing inventory growth. The median home price for previously-owned homes rose to $279,600, a 4.3% increase from a year prior.
As home prices climb and inventory tightens, your focus needs to be on 3 key things: spending time building relationships with each and every borrower, using custom pre-approvals instead of pre-qualification letters, and growing your relationships with 3rd-party referral partners.