RED REPORT - NOVEMBER 2017 - "Inventories Increased = Boost in Sales"

CHECK OUT OUR NOVEMBER 2017 RED REPORT!!!

RedReport - November 2017

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The Red Forecast

The Theory that more inventory would increase sales has now been officially proven to be correct in our local market. Inventories increased a few months in a row for the first time in years, but guess what also increased? PENDINGS! Inventories increased and then Pendings came up with a strong increase from October to November in all counties. We’ve been giving the opinion that more inventory would increase sales, but we didn’t have anything to prove it with other than 20+ years of experience and our opinion. We now have solid factual data to back it up.

Inventory Increase = Increased Sales

I still don’t think the Inventory shortage has been fixed and that may take many months/years to correct itself. New construction is helping with some inventory, but not enough. New construction also increases prices because of the increased costs of land, development cost, materials cost increase and sub labor increases.

It wouldn’t be a bad thing to see some of the costs cool down a little to keep the starter homes are little more reasonable. We used to say no new single family detached homes under $150k, then $200k, then $250k. Now we are struggling to see anything under $300k with townhomes/condos being about the only option for new under $300k.

The Red Realty Charity Challenge is going on now with Voting ending Sunday December 10th. Please visit our Facebook page to like/vote for your favorite charity. The top 5 winners will get $2,000 each ($10,000 total). Bring on the lights, trees, nativity scenes, musicals and other Christmas events.

I love Christmas and everything that reminds us of the celebration of Jesus Christ’s birthday.

MERRY CHRISTMAS!!


Thank You!
Steven
Steven Dotson
President

1574 Medical Center Parkway

Suite 202
Murfreesboro, TN 37129
Direct: 615-896-1400
Office: 615-896-2733
www.RedRealty.com



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