Why the South is starting the summer strong
#36
In real estate, only two impressions really matter: Your first and your last.
A thoughtfully tasteful housewarming gift (like the ideas rounded up here) can be the perfect way to cap off a successful transaction. Whether it’s a customized piece of art, gourmet spices, or a sweet treat, the right thank-you gift can be just the reminder they need to keep coming back—and referring their friends and neighbors.
How do you leave a lasting positive impression on your clients?
🔊 Today’s Top Video Rec:
As a developer, consultant, brokerage leader, and NYC real estate expert, Mark O’Brien has led over $175M in property transactions throughout his successful career. In the latest episode of Glennda’s Guru, Mark shares exactly how he found his footing in the competitive building industry, the most meaningful renovation he completed, and what’s next for his team.
TRACK THE TRENDS
MARKETS
Housing starts bounce back
Across the country, homebuilders have been getting busy. In April, new construction starts jumped 5.7% to a seasonally adjusted annual rate of 1.36M, largely led by a surge in activity in the South. According to NAR Chief Economist Lawrence Yun, the increase in home completions may temporarily boost housing availability, briefly improving rental rates and buyer opportunities later this year. But the activity still isn’t enough to reverse the supply issue keeping home prices high.
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In the multifamily space, construction is down 50% year-over-year.
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New building permits, a leading indicator of housing starts, are down 2% compared to this time last year.
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Estimates show approximately 1.6M new home completions are needed each year for the next few years to replenish the supply and bring home prices down.
REC ROUNDUP
The Friday Five
📖 Many, many mosaics. This MCM is a masterclass on maximalism.
👀 Let’s get to the point. The latest on Rihanna’s penthouse, a generous NFL player, and a whole town for sale.
👀 Know your demographics. What you need to know about this generation of millionaires.
💡Top 10 sales. Counting down the 10 biggest real estate deals of last week.
💡130% boost. See the 4-step process agent Stuart Crowell uses to increase showing activity.
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Before we go…
ESTATE RECOMMENDED RESOURCES
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