The Importance Of Real Estate Software
With the further and further dependence and reliance on technology being cultivated in our society, it is important for real estate agencies to keep up with the latest real estate software. The ideal real estate software can vary from real estate agency to real estate agency, such as MLX real estate software and real estate CMA software. This real estate software can be used for a number of purpsoes, such as comparative market analysis and the like.
For instance, real estate software can keep track of prices and market trends all throughout the United States – but particularly in the specific area that a particular real estate agency operates out of. For example, it is important to keep track of who is buying homes in today’s world. Contrary to the popular belief of many, young people make up a large portion of the home buying market with millennials and gen xers alone making up nearly thirty five percent of all home buyers in the United States in 2017 alone, and that percentage is expected to grow significantly in the next few coming years. However, though the younger generations of millennials and gen xers are beginning to buy more and more homes, it is important to note that the housing market and home ownership rates were at a fifty year low in 2016, just a couple of years ago.
Real estate software such as CMA comparative market analysis software can help to keep track of WHERE these young home buyers are looking at homes and making their final decisions. The answer is often online, as more than fifty five percent of people in the market for a home who were also under the age of thirty six did much of their research on an online platform, looking up listings and even scheduling tours of homes from their phones and computers (however, it is still advisable, of course, to see a home in person before you make your final decision to purchase it).
Real estate software can also help real estate agencies to see more clearly where and why people are purchasing homes. With more and more people becoming interested in property investment, for example, nearly twenty percent of homes are sold for the purposes of investment. This has become more and more common in recent years, and is expected to increase over the next few years. People also buy homes to accommodate their expanding families, and this can be tied to the growth that the suburbs have seen in recent years as well. In the coming years (over the next few decades) the vast majority of residential growth, as much as eighty percent of it, is expected to occur primarily in suburban locations and communities.
Finally, real estate software can help real estate agencies keep track of current home prices. With a net worth of more than thirty billion dollars in total all across the United States, homes come in a wide range of styles and price points. For instance, the median price of a home was just over two hundred thousand dollars in 2017, marking a considerable jump in housing prices since 2008, when the stock market crashed and the housing market suffered for it, with a median home price of only just over one hundred and seventy five thousand dollars. Fortunately, the housing market has been able to recover in recent years, with a stock increase of six and half percent – worth as much as two trillion dollars – in 2017.