Home buying activity remained sluggish in September despite a mid-month half-percentage point interest rate cut and more homes being available.
According to the September report from the Denver Metro Association of Realtors, the months of available inventory crossed the three-month mark for the first time since the pandemic. For comparison, in June 2023, the metro had 1.25 months of inventory.
The number of active listings, at 11,115, is up 4% from August’s 10,724 and 46% from September 2023’s 7,629.
The average number of active listings for September 1985-2021 was 15,253, while the record high was 31,450 listings in 2006, and the record low was 3,971 in 2021. Historically, active listings increase by an average of .74 percent from August to September. This year’s 4 percent rise indicates strong late-season growth in inventory.
“Homes are simply spending more time on the market and experiencing more price reductions before finding a buyer,” said Libby Levinson-Katz, chair of the DMAR Market Trends Committee.
The median close price dropped to $576,171, 2.3% from $590,000 in August and down 2% from $585,000 in September 2023.
She warned sellers to be patient as buyers may be waiting out the election and holiday season before making offers. But doing that can be risky.
“If buyers are waiting for the end of the election cycle and the holidays to wrap up, they may be kicking themselves for not striking while the iron is hot. Historically, sellers have reaped the rewards after an election cycle as home prices tend to increase.”
Million-dollar homes
Activity in the $1 million+ housing market saw a slight increase in new buyers and sellers last month.
New listings increased by 11% over August and 22% from September 2023. Pending home sales increased by 5% from August and 38% from September 2023. The median time homes spent on the market decreased by one day from 26 to 25.
“Despite the slight bump in new buyer activity over the past month, expect inventory levels to climb as the election approaches and the months get colder,” said Nick DiPasquale, with West+Main, a member of the market trends committee.
“This bodes well for the savvy buyer, looking for a great home at a good price. Sellers can still find success with patience and creativity.”
DiPasquale said that timing remains crucial for both buyers and sellers.
“While many buyers wait for the perfect home at the perfect interest rate, sellers weigh listing now in a slower market against waiting for spring, when buyer activity is at its peak,” he said. “In either case, moving too fast or too slow may mean missed opportunities.”
Homes priced $500,000 to $749,999
So far this year, the $500,000 to $749,999 price range category has been the busiest.
Of the 32,213 residential properties sold across the Denver Metro this year, 41%, or 13,119 homes, fall in this price bracket.
And that’s unlikely to change heading into the year’s final months, said realtor Christina Ray, a marketing committee member.
“As we move deeper into the ‘Ber’ months and the seasons continue to shift, I’m optimistic that buyers will soon find some of the best opportunities of the year,” she said.
“For sellers, timing is key — list now to take advantage of current market activity or wait until after the holidays for the most favorable terms. Just like the changing seasons, the market has its moments and knowing when to act makes all the difference.”
The news and editorial staffs of The Denver Post had no role in this post’s preparation.
Inventory levels often serve as a key indicator of economic activity, reflecting both producers’ expectations about future demand and actual sales performance. Recently, across numerous industries, there has been a 4 percent rise in inventory, suggesting strong late-season growth. This uptick in inventory levels points to producers’ confidence in the market and their anticipated sales in the future.
In assessing economic health, inventory data is pivotal. It provides an insight into business confidence, consumer spending, and overall economic demand. A rise in inventory suggests that businesses are, on balance, increasing production in anticipation of future demand, which can be interpreted as a sign of economic strength and growth potential.
The 4 percent inventory rise suggests several things about the broader economic landscape. First, it suggests that producers expect demand to remain strong, which generally indicates an optimistic view of the future economic landscape. Second, this inventory buildup could reflect a shift in demand trends, with sellers expecting a surge in sales during the late-season period. Lastly, it could be a strategic move by businesses to avoid potential supply chain disruptions by stocking up on inventory.
Despite the optimism surrounding rising inventory levels, it is important to examine the nature of this inventory growth. If this rise is primarily driven by a slowdown in sales, the situation might be less optimistic than it seems. Nevertheless, in the current scenario, this doesn’t seem to be the case. With strong job growth, rising incomes, and a buoyant consumer confidence, the demand environment can support a higher inventory level.
Furthermore, this 4 percent rise might serve as a buffer against any unexpected shocks or bottlenecks in the future. Given the recent disruptions in supply chain caused by the pandemic, businesses might want a higher level of inventory to insulate themselves from any potential upheavals.
This late-season growth is an encouraging sign for the economy as it hints at continued demand and spending into the typically slower parts of the year. It may also suggest that companies have successfully navigated supply challenges and are ready to meet consumer demand.
In sectors like retail and manufacturing, a rise in inventory is usually a prelude to robust sales. It could also benefit other industries indirectly. For instance, higher inventory levels could call for increased warehouse space, benefitting the real estate sector.
In conclusion, a 4 percent rise in inventory levels across industries evidences strong late-season growth. This heightening inventory level positions companies well to meet anticipated consumer demand going forward. Furthermore, it reflects a more significant trend of belief in economic resilience. While inventory data is just one piece of the economic puzzle, the recent growth gives reason for cautious optimism in the face of uncertainties. As the business climate evolves, continued close scrutiny of this indicator and others will provide valuable insights into our economic trajectory.
Write a proposal for a training program for customer service representatives in a call center.
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Title: High Impact Customer Service Training Program for Call Center Representatives
I. Introduction
Recognizing that exceptional customer service is key to a company’s success, we propose a customized, comprehensive, and continuous training program for our call center representatives. The primary goal of this program is to enhance the skills, knowledge, and capabilities of our representatives in addressing customer concerns, fostering quality customer relationships, and boosting customer satisfaction.
II. Program Goals
1. To instill a customer-centric approach in every interaction
2. To enhance problem-solving skills and decision-making abilities
3. To amplify the capacity to handle difficult conversations
4. To refine communication skills, both verbal and written
5. To improve understanding of products or services
6. To cultivate empathy and emotional intelligence.
III. Program Structure
The program will consist of onboarding training, on-the-job training, continuous training, and evaluations.
1. Onboarding Training: To ensure a solid and uniform foundation for all members, this will cover basics like the usage of CRM software, phone etiquette, understanding the brand ideology, products, and services offered.
2. On-the-job Training: This involves pairing a trainee with a seasoned representative for real-time coaching. It enables the application of knowledge in real-life situations.
3. Continuous Training: Considering the dynamic nature of customer demands, regular training sessions will be conducted to keep representatives updated on changing trends, new products or services, and company policies.
4. Evaluations: Performance and understanding will be tested through role plays, mystery call audits, and customer feedback.
IV. Delivery Method
A blended learning approach will be employed, ensuring a mix of instructor-led training, eLearning (online courses), and experiential learning (coaching, feedback).
V. Benefits
1. Consistent and exceptional customer service experiences, leading to higher customer satisfaction
2. Improved representative confidence and morale
3. Lower employee turnover and higher job satisfaction
4. Increased profitability through customer retention and acquisition
5. Enhanced company reputation
VI. Estimated Cost
The estimated cost of this program is ________, which includes the development of custom training materials, hiring of trainers, purchase of necessary software and tools, remunerations for hours spent in training, etc.
VII. Conclusion
Our call center representatives are the frontline warriors of our business, directly influencing the customer’s perception of our brand. Investing in their continuous training is not just a business requirement but a strategic investment in our robust and customer-centric future. Our proposed program, aptly titled ‘High Impact Customer Service Training Program’, aims to do just that. We appreciate your consideration and look forward to embarking on this endeavor.
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Kind regards,
[Your Name]
[Your Position],
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4 percent inventory rise indicates strong late-season growth
