Housing Headwinds

Splits and Caps Daily: Action for Agents

December 30, 2024

📈 Market Move:

Real Estate Rollercoaster Returns

Mortgage rates are climbing again, and the housing market isn’t loving it. After the Fed's "hawkish" rate cut last week (yes, they cut rates but made it clear they’re not feeling too generous for 2025), mortgage rates hit their highest levels since July. Long-term bonds freaked out, inflation data didn’t help, and hopes for a holiday miracle in housing went poof.

Sales for new and existing homes nudged up in November, but the big picture? 2024 is shaping up to be a record low for home transactions since the '90s. Why? Not enough homes to buy and prices that feel like they’re on steroids. Plus, many homeowners are clinging to their sweet, low-rate mortgages like a lifeboat.

Here’s the play: A strong economy might shift the game heading into next year, but for now, buyers and sellers are stuck in a high-rate holding pattern. Stay tuned.

🌟Quote of the Day:

"Do one thing every day that scares you." — Eleanor Roosevelt

📊🤔 Agent Poll Results

On 12/27, we asked: How do you feel about commission changes potentially impacting smaller brokerages?

The results are in!

• 🔄 "Fair game—adapt or get left behind.": 0%

• 🚩 "Red flag! This feels like a big brokerage power grab.": 0%

• 🤔 "I’m still trying to figure out what this all means for me.": 57%

• Other (What’s your take?): 43%

Top Comment for “Other”:

“None of the change has been for the benefit of the consumer.”

Appreciate you jumping in—your two cents just made this way more interesting!

🎉 Fun Fact of the Day: 

The Real Monopoly Origins: The classic Monopoly board game was inspired by Atlantic City real estate in the 1930s. Boardwalk and Park Place were (and still are) some of the priciest streets in town.

📚 Book Recommendation:

"Winning: The Unforgiving Race to Greatness” by Tim S. Grover—If you’re looking for a slap-in-the-face, no-BS guide to unlocking your next level, Winning by Tim S. Grover is the book you didn’t know you needed. Grover, the guy behind legends like Michael Jordan and Kobe Bryant, doesn’t sugarcoat a thing. This book breaks down what it really takes to win—not the Instagram-highlight-reel version, but the gritty, obsessive, relentless grind.

Grover flips the script on comfort and pushes you to embrace discomfort as a catalyst for greatness. Whether you’re chasing a personal goal or dominating your industry, this book is like having an elite performance coach whispering (or maybe yelling) in your ear: "Step it up!"

Warning: It’s not for the faint-hearted. But if you’re ready to move from good to unstoppable, grab a copy and start taking notes. 🏆

Time to close out the week! Keep hustling, stay adaptable, and remember—the best opportunities are the ones you create. Let’s go win!

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