Things that make agents go “WTH?”
Here’s a head-scratcher headline for you:
“Pending home sales spring forward, boost inventory,” posted at Inman.
Read it again. . .
I thought for a minute there was something I was missing. If more homes are going under contract, and sellers aren’t selling (which is the case pretty much nationwide), doesn’t that deplete inventory?
It always did when I was selling real estate in a seller’s market. So, I read the article carefully.
There isn’t a thing in it that assures us that inventory is being boosted anywhere. There is a quote from Lawrence Yun that says, basically, if we are to keep up this momentum in closed sales we’ll need a consistent influx of new listings.
“Without adequate supply, sales will likely plateau,” says Yun. Well, yeah. That’s how it works.
Yet, there's that headline and a bullet point that reads:
"The uptick in inventory could impact home prices because buyers will have more power to negotiate for lower prices."
Try as I might, I cannot figure out where this writer got information that there is an "uptick in inventory." Mr. Yun makes it very clear that we need an increase in inventory, not that there is one.
Then, I read the writer's bio. She’s a recent journalism school graduate. In fact, Inman is her first employer as a journalist.
No real estate knowledge necessary, I guess and, sadly, nobody at Inman seems to be on the ball enough to catch this glaringly ignorant headline. Inman -- who claims to be the online spot where we should turn " for accurate, innovative and timely information about the business."
Update: June 10, 2017 and the post is still up at Inman, with the same erroneous headline and content. One. Year. Later.
Folks, this is why you need a real estate writer. All the journalism education in the world does not a real estate writer make.