Updated: Jun 11
If you missed the weekly UPdate, Leslie Appleton-Young shared a presentation with the community and she and Sara had a value-packed conversation around "Leading Through Times of Crisis" with Jeanne Radsick. Overview of Leslie's Segment:
As the coronavirus continues to grip the economy with unprecedented speed, the monthly flow of data that used to be more than adequate has become nothing but a look in the rearview mirror. To stay on top of the quickly evolving real estate market, landscape, C.A.R. research has had to develop new sources of data as quickly as possible. Our market analytics comes from a data feed from all of the MLS’s in California. We used to download the data once a month for analysis and provided the information in a monthly press release and related articles. Today we are looking at the numbers on a daily basis, calculating average weekly closed sales, pendings, and new listings and looking at the week to week changes. In this, we are hoping to provide an almost real-time look into what is going on statewide, by region, by county, and even by city. Talk about a bird’s eye view.
In addition to the MLS data, we had significantly increased our survey research footprint. Since the first week in March, we have done a new weekly survey of our members asking them about the conditions they are experiencing in the field. Questions about the behavior and expectations of buyers and sellers as well as the new business practices required to sell real estate today. It has been illuminating to see the changes week to week as the shelter in place orders were announced and fear and uncertainty gripped the market. Today, almost two months later, we are seeing signs of a bottom and even an increase in interest in transacting real estate. This information has been invaluable in identifying new trends in consumer behavior and agent adaptation.
The slides contain summaries of the MLS data and the survey data that we have been generating -- please take a look and let Leslie know if you have any questions. She will be back again next week with a look at the latest market developments...
Watch the replay here: