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BOUNCE BACK
Why the South is starting the summer strong
#36
WELCOME
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.
In the multifamily space, construction is down 50% year-over-year.
New building permits, a leading indicator of housing starts, are down 2% compared to this time last year.
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.
WHAT’S NEW FROM ESTATE MEDIA
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Follow Estate Agents now to elevate your professional brand and make valuable connections with the leaders at the forefront of this industry.
FEATURED LUXURY LISTING
Like what you see? Reach out to listing agent Toby Corban to learn more and schedule your tour.
Our full lineup of real estate reads:
Estate Elegance. Your daily dive into luxury real estate. Everyday.
Homes.tastrophes. Unique, weird, and wild real estate. Every Monday
The Glennda Gazette. Real estate, real life, in real time. Every Wednesday.
WAS the Newsletter. Explore interior design advice and inspiration. Every Friday.
The Blueprint. Stay up-to-date on the world of residential real estate. Powered by James Harris & David Parnes. Every Tuesday and Friday.
With 156M unique monthly visitors, Homes.com is becoming the home search tool to beat. As proud partners of Homes.com—which just doubled the amount of traffic seen on platforms like Realtor.com—we’re thrilled to be aligned with the tool empowering agents and clients throughout every stage of the transaction process. If you’re not already on it, check out Homes Pro today, and bookmark your new favorite business tool.
Before we go…
ESTATE RECOMMENDED RESOURCES
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