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Sitting Unsold
The Massive Uptick in Available Inventory
#46
WELCOME
Our next A-list industry panel is a can’t-miss conversation, featuring some of the top female agents setting records and smashing expectations in their local real estate markets.
For one power hour, we’re bringing together:
Million Dollar Listing Los Angeles star, Tracy Tutor
Co-founder of Williams & Williams with a combined $16 billion in sales, Rayni Williams
Real estate’s $8 billion woman, Jade Mills
This industry-seasoned panel, hosted by Glennda Baker, one of TikTok’s most-followed realtors, is streaming LIVE on August 6, from 5-6pm PST on YouTube, Instagram, Facebook, and TikTok.
If you’re ready to get more out of real estate, hungry for new ideas, or need a jolt of motivation, don’t miss this livestream. With a line-up like this, we know it will be an energizing event.
🔊Today’s Top Reading Rec:
Taylor Hack, a real estate agent, marketing genius, tech investor, and podcast host, has arguably one of the most analytical and strategic minds in real estate. In this episode of Glennda’s Guru, Taylor shares his candid story of going from boosting cars and skirting the rules to dominating his local real estate market, plus his practical and tactical approach to negotiations, landing listings, and serving buyers. Listen to Taylor’s moving story now, and get ready to level up your business.
TRACK THE TRENDS
MARKETS
Prices: Buyers Won’t Shop ‘Til They Drop
In June, home listings lingered longer than usual, causing inventory to accumulate in major metros like Dallas, Tampa, and Fort Lauderdale. What’s behind the build-up? According to Redfin’s analysis, high housing costs are dampening buyer enthusiasm, slowing down sales activity even as more homes are hitting the market.
In June:
64.7% of homes had been on the market for at least 30 days without selling, up from 59.6% this time last year.
The total number of homes for sale recorded the largest YoY gain ever, as properties hit the market—and stayed there.
The share of ‘stale’ listings (those on the market for 30 or more days) increased in 44 of the 50 biggest metros across the country.
While more homes are staying on the market longer, Redfin noted it’s primarily the less desirable listings that are slow to sell. Buyers are passing over homes that aren’t in a good condition, are further from popular neighborhoods, or that are unrealistically priced. But move-in-ready homes in sought-after neighborhoods and fairly priced luxury homes are still selling quickly—and getting multiple competitive offers.
REC ROUNDUP
The Friday Five
📖 Be an informed investor. Check out The Playbook’s advice on finding wealthy real estate co-investors.
👀 Laughs & Listings. Comedian and writer Dan Levy joins our own Josh Flagg for a personality-filled home tour.
👀 Backyard Banyan tree. See the $135M estate featuring 13 bedrooms, 18 bathrooms, and a 100-year-old tree.
💡 Top 10 for renters. The best (and worst!) cities for renters, ranked by cost, economy, and quality of life.
💡 Leveraging client events. Glennda Baker’s brilliant strategy for turning fun events into lead generators.
WHAT’S NEW FROM ESTATE MEDIA
Welcome to The Inspection Period
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Get to know your hosts in our launch episode linked below, then follow Estate Media on YouTube to never miss an interview.
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