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Existing homes sales market falls again, market lacks sellers

Housing Wire

“Home sellers are buyers” — this is a phrase that I have been using in my economic work to explain the reality of the housing market recently. That’s reflected in today’s existing home sales report by the National Association of Realtors (NAR), where they fell again. million in July. million in July.

Sales 366
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Existing-home sales moved lower in August : NAR

Housing Wire

The housing market continues to cool amid high mortgage rates , affordability challenges and still-low inventory. In August, existing-home sales fell 0.7% Existing-home sales were down 15.3% Existing-home sales were down 15.3% This marks the third consecutive month the median sales price surpassed $400,000, NAR found.

Sales 399
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Builders only have 76,000 completed new homes for sale

Housing Wire

New home sales missed estimates today but had three months of positive revisions, which continues the story of the builders managing the higher mortgage rate environment. But they still only have 76,000 completed units for sale today. As shown in the chart below, this sector has never provided many unoccupied new units for sale.

Sales 305
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New home sales defy recession calls

Housing Wire

New home sales are up 20% year over year, and existing home sales are down 20% year over year; this is something we don’t see very often. One group has the advantage here while the other doesn’t: The new home sales market is minuscule versus the existing one, and the builders sell their homes like a commodity. This is 12.2

Sales 507
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#Trending: How to Leverage Instagram’s Algorithm to Build Your Pipeline

Speaker: Eric Simon, Founder of The Broke Agent Media | Matt Lionetti, Real Estate Salesperson at The Agency

Social Media is one of the most efficient sales tools an agent can use! As new social media tactics flood the market, agents are being inundated with the various apps and trends that could lead to their success. It has the potential to produce high-quality leads and foster client relationships when used effectively.

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Downside risk to home sales is limited despite 7% rates: Fannie Mae

Housing Wire

The housing market faces renewed headwinds with mortgage rates settling above 7%. Still, the downside risk to home sales is limited as more sales are being driven by life events, according to Fannie Mae ’s Economic and Strategic (ESR) Group. Purchase mortgage origination volume is expected to be $1.3 trillion in 2023 and $1.4

Mortgages 424
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Pending home sales rose 0.9% in July

Housing Wire

Mirroring the trend for new home sales (+4.4%), pending home sales rose 0.9% Year over year, pending home sales were down 14%, a smaller decrease than the 15.6% The NAR’s Pending Home Sales Index climbed to a reading of 77.6 Overall, pending home sales fell in all four U.S. annual drop recorded in June.

Sales 426
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The Complete Realtor: Tools to Successfully Manage Your Personal Life, Career, and Health

Speaker: Marki Lemons Ryhal, REALTOR, Keynote Speaker, 4X International Best Selling Author, and Podcaster at ReMarkiTable, LLC

Flexibility is the key to future-proofing your role as a real estate agent; you must be able to pivot and adapt to succeed in all markets. Automate and Maximize Sales Funnels and Systems. Most people would crumble in the face of such adversity, but Marki devised a plan that allowed her family, health, and career to thrive.

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How Enriching the Lives of Your Clients Leads to Greater Sales Success

Speaker: Ari Capogeannis, Director - Revenue Marketing at NVIDIA and Bill Pappa, Sales and Marketing Leader at Ai Media Group

Sales professionals who focus on relationship building generate more leads and raise their brand awareness. In this fire-side chat Marketing Technologist, Ari Capogeannis and Sales & Marketing Leader, Bill Pappa, will answer all of your questions and teach you: Effective ways to engage prospects through direct mail.

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Real Estate Solutions: How to Crush Your Sales Goals and Fuel Your Pipeline

Speaker: Mary Maloney, Founder & Team Leader at Hometown Realty

The sales cycle in real estate is frequently measured at 3+ months. Top real estate agents are distinguished from developing agents by their ability to convert organic connections into sales opportunities. Having a system in place to keep your sales pipeline full is the best way to navigate the ever-changing real estate market.

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Millennials are Determined and Prices are Soaring: The Step-by-Step Formula for Closing More Sales to Millennial Buyers Fast!

Speaker: Paul Moya - CEO, Millennial Labs, and The Go-To Performance Marketing Strategist and Realtor Coach for the Best in the World

Today’s real estate market is at the crossroads between Millennials becoming the biggest segment of home buyers across the country and social media becoming the most important platform to attract potential buyers. The #1 Reason Most Millennial Viewers on Social Media Never Turn Into Closed Sales.