One thing can be said about the real estate market with absolute certainty – it’s constantly changing. And you better keep up with the newest real estate marketing ideas and trends, or you will fall behind.
Below, we gathered the freshest and most profitable tips and tricks that can serve you both this year and in 2022.
Housing Marketplace State in 2021
Let’s start from a broader aspect. What is the current real estate landscape like? The Freddie Mac House Price Index (FMHPI) is the house price inflation indicator for the US. And it’s telling us that house prices rose by 11.3% last year due to lots of housing demand and record-breaking low mortgage rates. In 2022, experts assume the growth will slow down to 4.4%. As of summer, the FMHPI for the US was 248.1.
All in all, people will be pleased to hear that the marketplace is moving in favor of purchasers. Real estate is still selling pretty fast, and listing prices are growing bit by bit. The active listing inventory is record-breakingly low, but the gap between 2020 and 2021 continues to close. The weather caused shifts in a lot of areas in September. That caused a yearly decrease in newly-listed real estate. The 2021 decrease in newly listed real estate is the first one in 5 months.
House prices passed the peak growth rates and are now climbing in the single digits. What is all of this telling us? Well, there is a positive development for purchasers in the second half of 2021. Median listing prices in multiple areas continue to go down due to the growth of low-price property. New sellers are going into the marketplace at almost normal levels, and although real estate prices are still high, they should maybe think about pricing in a more competitive way later on.
Will Prices Fall in 2022?
A whole decade has passed since the Great Recession. The US has been on a record-breaking streak of continuous economic growth. The real estate marketplace still benefits a lot from the state of the economy. But nothing lasts forever, and housing markets cool down along with the economy.
Think about it. In 2020, the real estate marketplace had a record pace in its first coronavirus stages back in February. Sellers were gaining leverage; purchasers were benefiting from low mortgage rates…
But then the pandemic hit us full-on. Home prices never went down, but they were flat yearly in April last year. The month after that, in May, the houses took an average of two weeks longer to sell when compared to 2019. Eventually, purchasing interest climbed back, so home prices rose as sales got on at a faster pace. By summer, houses were selling at the same rate as in 2019. House prices were growing by higher single digits and were almost at a double-digit level.
Some forecasts think that house values could go up by double digits somewhere between now and the summer of next year. Although this prediction doesn’t cover the whole of 2022, we still think it is valuable information. Estimates tell us that the growth will be by around 13%. That would come on the heels of a year-on-year rise of about 15%. The usual house price in the US is $293,348 at the moment, 15 percent more than in 2020. The value is adjusted by season and incorporates just the middle price tier of houses. Rents are also up when compared to 2020, growing from 5.4% from May 2020. The rent is now, on average, $1,747 monthly in the States.
Tips for Real Estate Marketing in 2021 and 2022
There are many things you can do to get ready for some possible shake-up in the marketplace.
Create a Strategy to Get More Reviews and Testimonials
Social media is as vital as ever, and posting reviews and testimonials there can widen your reach! But let us not forget real estate review websites that you should utilize.
Don’t get your reviews just scattered on different websites – allocate them strategically to maximize the number of quality reviews.
Use Real Estate Marketing Software
Canva can be your friend for a while, but you need to invest in better software to get a higher ROI.
Real estate agents create marketing software out there for real estate agents. These usually provide easy-to-use templates for social media posts, email newsletters, etc. The selling point is that it is intended for property agents only.
Create Enticing Videos
One of the best real estate marketing ideas for 2022 is video creation. Falling in love with a property is not just about numbers. It’s about emotions and how people feel when they see specific properties.
Good videos can capture your attention and instill emotion in you. Short films on social media are a tried and tested method that gets great feedback.
Whatever you pick as your method as you move into 2022, take control of the current trends with the help of Real Estate Affiliates. Our blog is a great place that can keep you moving next year and help you stay in the know about real estate marketing ideas.