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WELCOME

This Sunday is National Roof Over Your Head Day. And while you won’t find a gaudy store display or Mariah Carey song dedicated to this lesser-known holiday, it’s still one worth reflecting on. 

Whether you’re an agent, an investor, or a real estate enthusiast, something keeps you coming back for more—even when the market throws 2008, 2020, and 2023 your way. What keeps you going? Hit reply and tell us your story.

Keep reading for:

• Positive signs. Late-season buyers are in luck.

• New news. Keep up with the market in minutes a week with Real Estate Report. 

• Negotiations. Land more listings (and commissions) with this smart move.

SHARPEN YOUR SKILLS

TRACK THE TRENDS

MARKETS

There’s ‘snow’ place like a new home

For buyers willing to brave the cold earlier this month, persistence paid off big time. According to Redfin’s weekly market data, just about everything that could go right for buyers in search of home, affordable home, did:

• Last week, the average 30-year fixed mortgage rate fell to 7.29%—down from a two-decade high of 7.79% just a month ago.

• That lower rate pushed the average mortgage payment down over $100, giving buyers a bit more room in their budgets, and fueling a 4% jump in purchase applications.

• On top of that activity, new listings are up 5.2% year over year, marking the most significant jump since 2021, with nearly 74,000 new listings added to MLSs across the country. 

For agents and brokers, these next few weeks are critical. A late-year push while the home-search stars are aligned can set you up for a strong 2024. But with prices still on the rise, January may prove to be a tough month for the industry. 

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The Friday Five

📖 Turnkey trends. 2023’s top home remodels and upgrades, according to Thumbtack. 

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👀 Circa 1896. Explore a gilded-age time capsule, yours for just $56M. 

💡Beware of disrepair. Glennda’s advice for first-time buyers touring run-down homes. 

💡Making millions. How to negotiate your commission—and land the listing.

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