- Real Estate Roundup
- Posts
- Gaining Ground
Gaining Ground
New construction surge
#73
WELCOME
A new survey by NAR of recent homebuyers found that the top reason they bought a home was because… they wanted to own one. Right up there with “ordering food because they’re hungry” and “getting a driver’s license to drive.”
At the end of the day, it’s a good reminder: Real estate isn’t complicated, and neither are people.
With that, here’s what you need to know this week to help more buyers reach their homeownership goal 👇
Homeowners are leaving big cities in New York, New Jersey, and California for slower, quieter, and more affordable suburbs. But the states they’re ending up in might surprise you. In the latest hot-take episode of The Breakdown with Buying Beverly Hills’ Ben Belack, Ben unpacks exactly why the massive migration is happening now, which markets are feeling the effects, and what agents should do as supply and demand shifts.
TRACK THE MARKET: New Construction Gains Ground
With existing-home sales at their lowest point since 1995, new construction is busy picking up the slack. In 2024, new-home sales accounted for 14.4% of all transactions—the highest share since 2005—driven by builders’ ability to offer rate buydowns and adjust inventory to meet demand. While mortgage rates have kept many existing homeowners from selling, homebuilders are adapting fast and offering concessions, making new construction a rare bright spot in a tough market.
In the new construction sector:
New-home sales topped 683,000 in 2024, marking a second consecutive annual gain.
That’s the highest sales pace since the 2008 housing crisis, aside from the post-pandemic building boom of 2020 and 2021.
Builders with in-house mortgage services are actively leveraging rate buydowns to attract buyers, giving them an extra competitive edge over existing-home sellers.
For agents, this news means new construction will likely continue to be a strong source of business. Agents who align with homebuilders—either by developing partnerships or staying informed on local builder incentives—are in the best position to capitalize on the trend.
DIVE IN
The Friday Five
📖 Beauty on a budget. Where to start when refurnishing your whole home.
👀 Goat yoga. Planning a client appreciation event? Save this family-friendly fun as inspo.
👀 Fireproofed. How a handful of carefully constructed homes survived LA’s worst wildfires.
💡30-year low. Why 2024 was a rough year for home sales…
💡Looking up. …but existing homes ended December on a high.
What’s New in Estate Elite
Luxury homes are full of unique, high-end touches. Top agents know how to draw attention to the right features, highlighting not just the specs, but the lifestyle that comes with them. Whether it’s a historic estate with rich character or a modern new build with sleek lines and stunning views, they’ve mastered the art of helping buyers connect with the feel of the home, even if they’re watching online.
☝️That’s just one of the can’t-miss insights Josh Flagg shared with the Estate Elite community in yesterday’s live Q&A session.
With Estate Elite, you gain direct access to the experience and perspective of not one, but five top-performing agents, twice a week. From branding and negotiation to marketing and client strategy, each live session delivers proven techniques to help you stand out in the competitive luxury space.
Ready to take your business to the luxury level? Tap here to activate your free 14-day trial and start getting expert guidance today.
WHAT’S NEW FROM ESTATE MEDIA
Swoon-worthy Mid-Cent
Want an inside look at an impeccably preserved piece of Mid-Century-style history, perfectly perched in the lower Bird Streets? On this episode of Real Talk, join Christie’s agents Weston and Alex for a full tour of this single-level gem, now on the market for the first time in nearly 70 years.
FEATURED LUXURY LISTING
TIPS & TAKEAWAYS
Prepping Your Pitch
According to Tracy Tutor, one of the best ways to establish yourself as the ideal agent for the listing is to learn every detail about the property before you walk into the pitch. From the listing history of the home and the topography of the neighborhood, to its proximity to schools and hot spots—when you show how much you know, sellers take notice. Watch Tracy’s full take here.
@estatemediaus How to Nail Your Next Pitch Meeting! #realestatetips #realestateagent
HANGS & HAPPENINGS
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
📣WANT TO REACH 100K+ REAL ESTATE PROFESSIONALS RIGHT IN THEIR INBOX?
Promote your brand with Estate Weekly and get noticed by the leading professionals in the real estate industry. Our subscribers include high-income decision-makers, investors, and key players in the real estate sector. For more information, please email [email protected].