For 18 consecutive months, home prices have continued to rise, now approaching a point where 50% of Americans can no longer afford to purchase property of any kind. With this in mind, realtors across the country, such as Ken Haring and Jeannette Draper, are developing data-driven strategies to help their clients stay competitive in this low-inventory market.
To make matters worse, the National Association of Realtors (NAR) predicts that climbing prices will slow in 2025, but are unlikely to fall in the next few years. This means that home buyers and investors will need to exercise increased diligence as they select properties in the near and mid-term future, and realtors need to remain flexible and adaptive.
Viability Of Local Strategies
As the NAR explains, the local-level actions of realtors are likely to have limited effect without a national-level readjustment of mortgage rates, but may still provide relief under certain conditions.
For example, the Pahrump realty duo known as “The Dream Team” believes it has been at least partially responsible for swaying the local market back into a buyer-friendly position, making it one of the very few places nationally where investors can confidently expand their portfolios in 2024 and 2025.
The pair claims that their focus on big-picture price trends, coupled with the implementation of smart, ground-level data aggregation tools has allowed them to remain flexible, even as the price ceiling has been gradually raised.
Bringing Stability In An Uncertain Time
As market instability continues into an uncertain future, Ken Haring and Jeannette Draper have expressed hope that their data collection and analysis tools will offer some support to buyers who feel shut out of the market entirely.
Meanwhile, in other key areas across the country, realtors are experimenting with AI-driven solutions to predict price movement and locate potentially viable purchases before they are listed on the general market.
It remains likely that the solution to the current market predicament lies somewhere in between these two approaches. However, without top-down intervention, the impact of these solutions will likely remain local for the time being.
About “The Dream Team”
Ken Haring and Jeannette Draper have been operating in Southern Nevada for several years, and in that time have become the leading authorities on properties in the area. Their database contains reliable information on hundreds of homes throughout Nye and Clark counties, available for free for the benefit of all interested parties.
More information about their approach to data collection can be found by clicking here.