Baby Steps

Rates Dip, Sales Skip: A Brief Market Waltz

November 22, 2024

Splits and Caps Daily: Action for Agents

November 22, 2024

📈 Market Move:

Hopes and Homes

October brought some rare good news: existing home sales jumped nearly 3% year-over-year, marking the first annual increase in over three years. Why? Mortgage rates briefly dipped closer to 6%, giving buyers a window to jump in.

But don’t pop the champagne just yet. Rates are back up near 7%, and forecasts for 2025 have been dialed down. High prices and stubbornly elevated rates continue to box out buyers, keeping sales below the 4-million mark for the fifth straight month.

Silver linings? Buyer demand and mortgage applications are showing some life, and inventory is loosening in a few markets. The big question: Is this just a temporary post-election pop, or the start of something sustainable?

For now, the housing market’s thaw still feels more like waiting for spring than enjoying the heat of summer. Stay tuned.

🌟Quote of the Day:

"Failure is simply the opportunity to begin again, this time more intelligently." — Henry Ford

📊🤔 Agent Poll

What’s the real villain of the housing market right now?

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🎉 Fun Fact of the Day: 

Japan’s Earthquake-Proof Homes: In Japan, some homes are built on shock-absorbing foundations that literally float during earthquakes. It’s next-level real estate tech—who needs a moat when your house can bounce back?

📚 Resource Recommendation:

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Best part? You’ll finally have insights into which posts are crushing it and which ones need to take a lap. So whether you’re turning your Instagram into a lead magnet or finally figuring out why your tweets get zero love, Sprout Social is here to make you look like a marketing pro.

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Want to level up even more? Hit the Agent Bookshelf for top reads, Agent Articles for real estate gold, and Agent Resources for the tools to boost your biz—go get it!

Time to wrap up the week! Stay bold, stay nimble, and remember—each move is one step closer to your dream. Let’s crush it out there!

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