RE/MAX Ranked a Top 15 Franchise for Seventh Consecutive Year

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For the seventh straight year, RE/MAX, LLC, the #1 name in real estate*, was recognized as a top 15 franchise brand and the leading real estate franchise brand for the 11th year in a row in the 2019 Franchise Times Top 200+® survey.
 
“This past year, RE/MAX has doubled down on technological advancements, corporate innovation and service enhancements to further support and empower our network of highly productive agents,” said RE/MAX CEO Adam Contos. “Recognition in annual surveys and industry rankings is a testament to our brand and business initiatives living up to our commitment to be a business that builds businesses.”
 
Highlights of this year’s ranking include:
 
RE/MAX ranked the #1 real estate franchise brand

The top 15 overall standings include #1 McDonald’s, #2 7-Eleven, #3 KFC, #4 Burger King, #5 Ace Hardware, #6 Subway, #7 Domino’s, #8 Pizza Hut, #9 Marriott Hotels & Resorts, #10 Taco Bell, #11 Wendy’s, #12 Chick-fil-A, #13 Hilton Hotels & Resorts, #14 Circle K and #15 RE/MAX.

The Franchise Times Top 200+ is an annual ranking of the 500 largest franchise systems in the United States by global systemwide sales, based on the previous year’s performance. Systemwide sales is defined as the total sales for both franchise and company units. According to the 2019 survey, the top 200 added $26.9 billion in sales in 2018. The ranking methodology and full report are available at franchisetimes.com.
 
Earlier this year, Entrepreneur magazine ranked RE/MAX, LLC as the leading real estate franchise in the 2019 Franchise 500®. RE/MAX has been the top real estate franchise in the annual survey for seven consecutive years.

Recent national surveys demonstrate the high productivity of the RE/MAX network. RE/MAX is home to more of “America’s Best” real estate agents according to the 2019 REAL Trends + Tom Ferry “America’s Best Real Estate Professionals” rankings. RE/MAX also had more of the nation’s elite agents with the most homes sold according to the 14th Annual REAL Trends “The Thousand” rankings released this past June. 

RE/MAX is in more countries and territories than any other real estate brand. From a single office that opened in 1973 in Denver, Colorado, RE/MAX has grown into a global real estate network with more than 125,000 sales associates in more than 110 countries and territories.

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585.

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RE/MAX National Housing Report for September 2019

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September Home Sales Post Highest Year-over-Year Gain in Nearly Three Years

While signaling the end of 2019’s peak selling season, September home sales rose 8.1% year-over-year – the largest year-over-year increase since November 2016. Home purchases increased in 47 of the report’s 54 markets, forcing already tight inventory totals to drop 6.1% year-over-year for the biggest decline in over a year.

The year-over-year increase in September 2019 sales was the largest September increase since 2013. This was accompanied by an August-to-September decline of 17.0%, which – while larger than average – was significantly less than the month-to-month drop of 24.4% in September 2018, when sales sharply declined amid an uncertain interest rate environment.

September 2019 marked the third consecutive month of year-over-year inventory decline. That reversed the strongest 9-month-stretch of year-over-year inventory growth – from October 2018 to June 2019 – in report history. Meanwhile, the August-to-September seasonal inventory decline of 1.5% was less than the August-to-September 5-year average drop of 2.3%.

“It was encouraging to see the improvement in September home sales, especially given how tough last September’s results were,” said RE/MAX Holdings CEO Adam Contos. “The market still poses some challenges for buyers – framed by rising prices and shrinking inventory – but we’re moving into the fourth quarter on much better footing than we had a year ago. As we begin to lap the end of last year and its persistent sales declines, the housing market’s momentum increases the chances of seeing more months of strong year-over-year gains in sales.”

September’s Median Sales Price of $254,500 was a year-over-year increase of 4.5%, which is in line with the year-over-year average gain of 4.9% for 2019’s first nine months.

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585.

 

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Demand for Housing Increases in August 2019

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According to the August 2019 RE/MAX National Housing Report, buyer demand continues to exceed available housing supply, extending the favorable seller’s market that has been in place for years. While sellers have had the upper hand in negotiations in recent years with constricted inventory remaining nationally, more buyers entering the housing market could increase momentum.

“The modest inventory growth that started last fall has been swallowed up by demand as buyers have returned to the market, likely spurred on by attractive interest rates,” said RE/MAX CEO Adam Contos. “Home sales dipping at the same time inventory falls suggests there may have been some reluctance on the part of sellers to list their homes,” added Contos.

The last of 2019’s peak months for home sales also prompted encouraging signs for buyers with a steep decline in Median Sales Price from July 2019 to August 2019. Despite concerns over low inventory, the seasonal decline in inventory from July 2019 to August 2019 is on par with the national average since RE/MAX began releasing the RE/MAX National Housing Report over 10 years ago.

Here are some highlights of the latest data found in the RE/MAX National Housing Report:

Home sales took a dip.

The overall average number of home sales is down 4.2% compared to July 2019, and down 1.6% compared to August 2018. Leading the month-over-month sales percentage decrease were Miami, FL at -13.5%, Dover, NH at -13.1%, and Washington, D.C. at -10.3%.

2. Home prices became increasingly more affordable.

In August 2019, the median of all 53 metro Median Sales Prices was $263,000, down 3.6% from July 2019 and marking the steepest drop-off in report history from July to August.

3. The number of homes for sale declined.

The number of homes for sale in August 2019 was down 3.9% from July 2019 and down 5.5% from August 2018. Based on the rate of home sales in August 2019, the Months Supply of Inventory was 2.8, a decrease compared to 2.9 in July 2019 and 3.5 in August 2018. A six months supply indicates a market balanced equally between buyers and sellers.

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585.

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RE/MAX National Housing Report for August 2019

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Year-Over-Year Home Sales Slip 1.6% After Largest Inventory Decline in 13 Months

August 2019 existing home sales slipped 1.6% from a year ago, despite buyer demand exceeding available housing supply, according to the RE/MAX National Housing Report. Following July’s year-over-year sales increase of 2.3%, the slight August decline marks the sixth month of 2019 that produced fewer sales than 2018.

Buyer demand outpaced homes listed for sale in August, causing the largest inventory decline in 13 months. An analysis of the report's 53 metro areas shows August inventory shrank 5.5% year-over-year, the largest drop since 7.8% in July 2018. August’s inventory contraction followed July’s year-over-year inventory decline of 1.5% after nine consecutive months of year-over-year inventory growth. Months Supply of Inventory decreased to 2.8 compared to 2.9 in July 2019 and eclipsed the previous August low in the report’s 11-year history.

“The modest inventory growth that started last fall has been swallowed up by demand as buyers have returned to the market, likely spurred on by attractive interest rates,” said RE/MAX CEO Adam Contos. “Home sales dipping at the same time inventory falls suggests there may have been some reluctance on the part of sellers to list their homes. Nevertheless, demand is again ahead of supply, extending the favorable seller’s market that has been in place for several years.” 

Inventory has remained below four months in 39 of the last 42 months, dating back to March 2016. Six months is considered a market balanced between sellers and buyers.  

Homes moved quickly and August saw a year-over-year price increase of 5.7%, further evidence of buyer demand. The August Days on Market total of 44 represented the second-fastest pace of August home sales in the report’s history. The previous record was set last August, when homes sold in an average of 43 days.

August weighed in as the eighth consecutive month of year-over-year price growth as the Median Sales Price rose to $263,000. Going back to February 2012, prices have increased year over year in 89 of the past 91 months.

Despite the favorable conditions for sellers, there were still a few encouraging signs for buyers in the last of 2019’s peak months for home sales:  
While home prices typically decline from July to August, the decrease of 3.6% was the steepest drop-off in report history from July to August.


Despite August’s significant year-over-year inventory shrinkage, the seasonal decline in inventory from July-to-August of 3.9% is on par with the 3.7% average since the RE/MAX National Housing Report began in August 2008.

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585.

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RE/MAX National Housing Report for July 2019

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Home Sales Increase 2.4% in July, Ending Nine Months of Inventory Growth 

July home sales bounced back after a sluggish June by increasing 2.4% year over year, according to the RE/MAX National Housing Report. This was enough to end nine months of year-over-year inventory growth as the number of homes for sale declined 1.4%.

A drop in home sales from June to July is typical in the report's 53 metro areas. But the 0.2% decline from June to July 2019 was by far the smallest month-over-month decline since July 2013. And while June sales failed to top May for only the second time in the report's 10-year history, July sales set a report record for the month.

"July sales snapped back after a tepid June, as attractive low interest rates appear to have brought more buyers into the mix," said RE/MAX CEO Adam Contos. "The housing market has been a bit uneven since the early spring, with each encouraging month seemingly followed by one with lukewarm results. It's possible the housing market has finally shaken some mud off its boots and can maintain its momentum for the back half of the year. If the broader macro environment hangs on, we could see a potentially strong finish to 2019.”

July's Median Sales Price of $273,000 - while down slightly from June's all-time report record high - was 9.2% higher than July of 2018. It marked the seventh consecutive month of year-over-year price growth. Home prices have risen, year over year, in 88 of the last 90 months dating back to February 2012. Said Contos, "Although lower interest rates help affordability, we have now seen two straight months of accelerating price increases. If the trend continues, it's not an encouraging development for buyers.”

July's Days on Market total of 43 saw sales closing at the same rate as they did in June, but taking two days longer than in July 2018. Months of Inventory in July 2019 totaled 2.7, down compared to June's 2.9 and 3.3 in July 2018.

At RE/MAX Flagstaff, our dedicated REALTORS® are driven to serve you and are committed to success. Please let us know how we can assist you with your real estate needs. Call us at (386) 246-8585.

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