3 metros where prices are dropping
#42
Owning Manhattan—the latest must-watch real estate reality show—just hit Netflix, and the reviews say it’s nothing short of 🔥🔥🔥
ICYMI, Owning Manhattan follows NYC-based celebrity broker Ryan Serhant, and his high-performance team (including Jeffrey St. Arromand, star of our own Let’s Get to the Point!). From listing the soaring $195M Central Park Tower penthouse, to dealing with high-stakes team tensions, Season 1 brings the best of NYC and reality TV rolled into eight docuseries-style episodes.
Check out Jeffrey’s take on the new show here, then watch the trailer for yourself.
🔊 Today’s Top Reading Rec:
When Serhant agent, Bravo TV star, and Hampton realtor Talia McKinney first started her real estate career as a rental agent in Brooklyn, she dreamed of breaking into the luxury market. Today, she’s the leader of a growing real estate team, an international keynote speaker, and just closed an incredible $31.5M deal. Watch Talia’s interview on the latest episode of Glennda’s Guru to learn from one of the most motivational voices in real estate.
TRACK THE TRENDS
MARKETS
Correction Territory
Last week, NAR reported median home prices hitting a new all-time high of $419,300. But not every market is experiencing the same kind of steady price growth. In fact, as we cross the halfway point of 2024, cooling corrections look increasingly likely for a handful of major metros.
Here’s what Realtor.com is watching in the second half of this year:
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Regional variations: In Florida, markets like Miami and Naples are experiencing notable year-over-year price declines, while the number of homes for sale in Orlando has more than tripled over the past two years.
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Supply and demand dynamics: Markets with significant increases in housing inventory and longer selling times, like the Texas metros of Corpus Christi and McAllen, indicate potential price adjustments are on the horizon as supply begins to outpace demand.
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Market cooling indicators: In Denver, the dramatic increase in seller price reductions—57% of homes have at least one price drop—points to an impending market correction, unless interest rates begin to fall.
REC ROUNDUP
The Friday Five
📖 Buyer’s agreements. The results are in—here’s how agents are handling the new BAA rules.
👀 From FL to CA. Check out the 10 biggest real estate deals of the past week.
👀 She’s back! Amanda McCants joins Josh for another personality-filled home tour.
💡Let’s Get to the Point. Join Jeffrey St. Arromand and the Owning Manhattan cast for this week’s top industry headlines.
💡True test. How well do Josh and Tracy really know each other?
WHAT’S NEW FROM ESTATE MEDIA
Special Episode: Rise Above the Ranks Under 30 Roundtable
In this special edition of James Harris and David Parnes’ podcast Rise Above the Ranks, they sit down with four trailblazing real estate pros who are hustling to knock out deals across Greater LA. This power-packed panel discussion covers:
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Lessons learned as young professionals in a tough industry
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The best advice they’ve gotten—and can give new agents
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Leaning into what works organically for you
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What tactics are working now, and which ones are worth ditching
Tap to listen to this energizing episode, and stay tuned for our next Under 30 Roundtable!
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