Existing Home Sales Decline By 34% December 2022

· Home sales declined 1.5% on a month-over-month basis in December 2023.

· Existing home sales were down 34% year over year, marking the eleventh straight month of declines.

· The median sales price rose 2.3% to $366,900 on a year-over-year basis.

The National Association of Realtors recently shared a significant home sales decline in December 2022, by 34% year over year and a decline of 1.5% month over month. – the 11th consecutive month of declines. This reflects a downward trend in home sales that have taken place for almost a year, suggesting an unfavorable housing market climate. Moreover, such a downward trend has the potential to decrease the value of real estate prices. It is important to pay attention to home sale trends to make well-informed decisions when it comes to buying or selling a house.

Why Are Homes Sales Falling So Fast?
The mortgage rate increases of 2022 were unprecedented, with rates having doubled over the course of the calendar year. This all-time high increase in mortgage rates is the number one cause of the decline in home sales that we have seen across the country. High mortgage rates inflate mortgage payments and can put a strain on potential buyers’ pockets. In January of 2022 mortgage rates were reported to hover around 3%, but by December they had risen to an alarming 6.5%. This drastic in mortgage rates is faster than ever before, leading to a decrease in people being able to afford their dream homes.

Why Are Interest Rates Rising So Fast?
The federal funds rate is an instrumental tool in the Federal Reserve’s attempt to combat the inflationary pressures on the US economy, specifically now when inflation rates are at their highest in 40 years. In 2022 alone, the Federal Reserve hiked up the federal funds rate seven times, starting at a low of .25% and closing out the year with a federal funds rate of 4.5%. This is a major shift and leads to a higher cost of borrowing money for houses, cars, and everything we buy, putting a damper on consumer spending. But how high does the federal reserve rate need to go to gain control over inflation? While experts may have predictions, it’s ultimately impossible to know for sure.

In recent years, the Federal government has overseen the unprecedented growth of the M1 and M2 money supplies by increasing the number of dollars available. Looking at graphs of M1 and M2 money supplies reveals a sharp acceleration in growth in both funds. With more dollars chasing goods and services, prices naturally will rise as suppliers leverage higher demand to increase costs. This concept is simple and also known as ‘supply & demand 101′.

Will There Be a Housing Crash in 2023?
We do not believe there will be a crash in home prices in 2023, however, we do believe home prices will decline in 2023 says John Myers owner/broker of Myers & Myers Real Estate.

Housing prices are beginning to fall in many of the large cities across the United States. While there is a range of predictions from experts about what will happen next. One thing is for certain: the housing market centers around local markets and no two housing markets are the same. As a result, buyers and sellers should track local housing prices and keep an eye on the economy as time progresses to gauge how they might affect their housing plans. Although it is fully possible that housing prices could crash in some areas, others may follow different trends altogether – so tune into your local housing market to stay informed.

What Should Home Buyers Do?
As home buyers weigh the decision to purchase, they need to consider all the factors that go into home buying, especially the current and expected mortgage rates. Most experts predict the Federal Reserve will increase its fed funds rate over the 2023 year, which should result in a rise in mortgage rates. However, some experts are proposing different opinions; they feel that mortgage rates could reduce by the end of 2023. Despite these contrasting predictions, I fall in the camp that mortgage rates will be higher after this year than when we started it. Buyers will have much to ponder as home prices possibly decline due to pandemic-driven economic challenges and increased competition for homes with low borrowing costs. Each home buyer should monitor their local real estate market and reflect on their goals carefully before making a home-buying decision so they can be sure their purchase aligns with what is best for them.

What Should Home Sellers Do?
Home sellers fall into two categories – homeowners that must sell and those who want to sell. For home sellers that must sell, we highly recommend selling sooner rather than later given the fact that rising mortgage rates are making it harder for buyers to afford a home and home prices are currently falling in major cities; although we do not expect an outright crash. Homeowners who want to sell should know that markets have changed and offers will likely not come flooding in as quickly as they may hope. They should adjust their expectations accordingly and understand that patience is required when marketing themselves properly in these unique markets.

In Conclusion
After a few years of an ultra-competitive housing market, the market is shifting and a more balanced market is emerging. Buyers, sellers, real estate agents, real estate investors, and other professionals within the real estate industry are adapting to this change which results from pandemic-related circumstances being largely over, essentially returning the real estate market to pre-pandemic norms. Buyers will note that properties are staying on the market longer as competition eases up somewhat, though it is still an active housing market. It will be interesting to monitor how this shift continues in the coming months and years.

How to Product Launch Effectively

Once the product is ready its fate depends upon two things. First thing is the product creation itself and second thing is the product launching. If either of the two things is not satisfactory the product can not perform well. For the product to succeed the platform should be strong enough to give the necessary boost to the product. The final thrust to the product can be provided with lucrative product launching.

Although the fate of the product starts to decide from the very first day the product creation starts, but when the product comes in the market its initial success depends upon how the product is launched and customers queries solved. The more the customers come in confidence initially more is the sale of the product. Although lucrative product launching can only be a platform rest of the product sale is decided by the product quality and utility.

For Lucrative product launching some things need to be planned well in advance. The product should have something new that is not in the present products or it should be able to eliminate shortcomings of current products. All these points should be highlighted in the product launching.

Though all the features should be projected, it should be tried that some of the features are kept secret that should be reveled during the launching. This will keep the interest of the people and helps in initial sales of the product.

For lucrative product launching some goodies should be provided to the customers. Use of free gifts or early bird prizes also helps the company. Other successful key is to give extended service or warranty on the product this demonstrates your confidence on the product and helps taking customers also in confidence.

How to Start an Online Business – 5 Great Ways to Launch Your Business Today

Most people these days are tired, bored, and frustrated with their 9 to 5 job. You don’t feel satisfied with your work, you don’t feel like you have enough time for yourself, and you’re tired of working for “the man”. More and more, we are freeing ourselves from the shackles of big corporations and seeking work alternatives. A great way to have more free time and make more money is to start an online business. There are a number of ways to go about it, and I’ll give you five great ideas you can choose from, from most simple to more advanced. Marketing physical products. In this case, all you have to do to start an online business is create webpages that talk a little bit about a product of your choice, and include a link to a merchant that sells that product (e.g. Amazon). When the visitor buys a product after clicking on your link, you get a certain percentage of the money from that sale. This is called affiliate marketing. Of course, you have lots and lots of webpages that bring you lots of sales every day (which means lots of commission for you).
Create a blog. This involves writing about a topic that you’re passionate about on an regular basis. You find dedicated readers by seeking them out in forums and connecting with people online. To start an online business in blogging successfully, you need to write quality posts that will gain trust from your readers. Then, when you recommend products (either your own or through an affiliate link), you’ll have a greater chance that your readers will buy from you since you have built a trusting relationship.
Article marketing. This is a little bit like blogging but with a twist. To start an online business in article marketing, you’ll be writing articles and submitting them to various article directories. These articles rank high in Google, and you include a link to your website at the end. After providing valuable information in the article, you entice readers to click to your website. Once on your website, you provide more information on the subject and then include a link to the merchant, where you’ll hopefully get a sale.
Run a Pay-per-click campaign Unlike the previous three methods, PPC campaigns are not free. In this method, you pay for advertising space on your search engine of choice that drive targeted traffic to your site. The advantage if you start an online business this way is that PPC campaigns tend to be more sustainable and often make much more money. But you need to know what you’re doing here because it’s easy to lose lots of money if you don’t do it right!
Sell a product. The first four methods were affiliate marketing methods. But if you feel like you’re ready to step it up a notch, you can start an online business by selling your own product. This can be an digital product (e.g. an e-book) or a physical product. The advantage of selling digital products is that there are no manufacturing costs and no inventory. E-books are usually very simple to make, too. And once you have your own product to sell, you can have other affiliate marketers selling your product too!