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Building Boost
3 states where new builds are taking over
#69
WELCOME
Happy (or unhappy?) National Quitter’s Day—the day most New Year’s resolutions become little more than good intentions.
Research shows that about 80% of well-meaning goal-setters abandon their aims less than two weeks into January—the first time their new habits hit a roadblock. But if you’re reading this, we have a feeling you’re the type who sets their own trends.
Hit reply and tell us: What are your resolutions for 2025? And more importantly—what are you doing today to be a part of the 20% who stick with it, no matter the resistance?
What does $28.5M get you in Los Angeles? How about stunning skyline and ocean views, wall-to-wall windows that open every space, natural stone and wood accents, countless thoughtful amenities, and 13,000 square feet of architectural mastery? Join James Harries for a tour of the luxury estate setting a new standard for serene city living.
TRACK THE MARKET: Building Gets a Boost in a Handful of States
High prices and rising rents have home builders working overtime. According to a new report by LendingTree, the top five states with the most new construction approvals managed to greenlight over 403,000 housing units for 2024 as of July, giving some hope to buyers and renters feeling the squeeze.
Where is new construction growing the fastest?
New York tops the list with a massive 80.47% increase in new construction permits, approving 28,070 units.
Wisconsin came in second with 13,333 approvals—a 23.03% gain year-over-year.
Not far behind, South Carolina’s new construction activity jumped 17.11% year-over-year, with 29,351 housing units approved.
While the report showed new construction stalling—or downright declining—in states like Colorado, Minnesota, and California, gains in states like New York and South Carolina suggest that local pushes for development and construction can help to improve affordability and inventory issues in some competitive metros. And for buyers and renters in these tight markets, every approval creates another opportunity to find the right place at a reasonable price.
DIVE IN
The Friday Five
📖 Get thrifty. Check out interior designer Paige Wassel’s best Facebook Marketplace finds in LA.
👀 Top 10. Scroll through the top 10 real estate deals of last week, from LA, to NY, to Miami, and more.
👀 Supply surge. Why inventory is up—but listings are stale.
💡3 keys to success. David Parnes’ three best tips for landing new leads—and keeping the ones you get.
💡The biggest mistake. The one real estate decision Glennda regrets to this day.
LEARN FROM THE LEADERS IN LUXURY
Breaking into luxury real estate takes more than the right connections. It requires you to master a level of service and client support that sets you apart from agents doing smaller six-digit deals. Estate Elite gives you both confidence and know-how, backed by five of the top agents in the industry, so you can thrive in the most competitive sector of real estate.
With Estate Elite, you’ll gain access to live workshops, interactive Q&A sessions, and private masterminds featuring Josh Flagg, Tracy Tutor, James Harris, David Parnes, and Glennda Baker, designed to tackle the unique challenges of selling luxury homes. From sharpening your negotiation skills to building a personal brand that attracts high-net-worth clients, the program equips you with tools and techniques that get results.
Don’t wait for your next big deal—create it. Sign up here to claim your 25% discount and make 2025 your biggest year yet.
WHAT’S NEW FROM ESTATE MEDIA
Breaking down first-time buyer trends
According to NAR, the median age of first-time home buyers has hit a new all-time high of 56 years old. What does that mean for young buyers hoping to find a suitable home at a price they can afford? In the latest episode of The Breakdown, host and Beverly Hills’ Super Realtor Ben Belack takes a closer look at this high-shock headline—and why the truth behind this number isn’t as simple as it seems. Watch now to learn what down payments, student loan debt, and the future of interest rates have to do with the prime buying age.
FEATURED LUXURY LISTING
TIPS & TAKEAWAYS
Just Sold 👏
Congratulations to James, David, and the Bond Street Partners team on the incredible sale of 1800 Marcheeta Place, offered at $28.5M—just eight days after hitting the market. In representing both the buyer and the seller in this smashing deal, they ended 2024 with a bang.
HANGS & HAPPENINGS
Inman Connect | NYC | January 22-24, 2025. Grow your network, learn from the best in business, and get inspired through multiple networking opportunities and breakout sessions from industry pros like Rayni Williams, Mauricio Umansky, and Jimmy Burgess.
RETCon | Las Vegas, NV | March 10-12, 2025. RETCon is a must-attend event for real estate technology and innovation professionals. The conference focuses on PropTech and RealTech solutions, trends, automation tools, AI advances, and more, and gives agents and industry pros a place to learn, network, and stay competitive.
REALTOR Broker Summit | Louisville, KY | April 8-9. Get leadership and marketing insights tailored to brokers, real estate leaders, and teams ready to refine their strategies and jump ahead of the competition. Register for two days packed with workshops, presentations, meet-and-greets, and more.
Before we go…
ESTATE RECOMMENDED RESOURCES
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