Hold on to your for-rent signs—Gen Z is taking a new approach to apartment hunting.
Recent data out of RealPage, a real estate software and analytics firm, shows that young renters are increasingly relying on social media and community recommendations—not online ratings or internet listing sites (ILSs)—to find their next place.
The bottom line? Gen Z isn’t completely dismissing agent expertise and traditional listings platforms. They’re just tuning in to new channels.
Keep reading for:
Rising rates. But with a twist.
Level up. Josh Flagg’s latest listings masterclass.
Selling Sunset. The Maya Vander story.
SHARPEN YOUR SKILLS
🔊Today’s Top Podcast Rec:
Join Chief Artificial Intelligence Officer and Keynote Speaker, Marki Lemons Ryhal and superstar agent Glennda Baker for an action-centric conversation about leveraging AI to boost your productivity, increase your income, and maximize your real estate marketing dollars.
TRACK THE TRENDS
Oops!… Rates did it again
Last month, the interest rate for a 30-year fixed-rate mortgage soared past 7%—hitting highs not seen since early 2000. But unlike the last interest rate spike, in today’s market, home prices are rising right alongside borrowing costs.
Low inventory has pushed the median home sale price up about 3% YoY.
The typical loan payment for a median-priced existing home is now nearly $2,300, which is about 50% of homebuyers’ median income.
Between high prices and rising rates, in August, contract signings dropped 7.1% month-over-month, and pending home sales dipped 19% since last year
This unusual market is a big opportunity for sellers who have built up equity in their home. Though interest rates are rising, with inventory limited, buyers are willing to pay out for what they want.
WHAT’S NEW FROM ESTATE MEDIA:
Master your market
Join luxury Los Angeles agent Josh Flagg for a live Q&A masterclass, featuring questions from real agents across the country. In this deep dive, Josh tackles questions like:
Are Sunday open houses still worth the hype?
How do you compete with agents willing to slash their commission to win a listing?
Is it worth putting your listing in the MLS Caravan magazine—or any industry publications?
What’s the best way to promote an off-market listing?
Whether you’re an agent looking to scale your business, or you’re considering making the move to real estate, this info-packed conversation is worth a listen.
The Friday Five
📖 Spooky szn. Zillowtastrophes visits a witch house.
👀 Luxury home tour. What $16 million gets you in Beverly Hills vs Malibu.
👀 Who’s watching? Why you should assume your clients always have their eyes on you.
💡Brokerage or bust. Kickstart your career by choosing the right brokerage.
💡After Selling Sunset. How Maya Vander balances motherhood and real estate post-Netflix.
Before we go…
ESTATE RECOMMENDED RESOURCES
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