2021 RealTrends 500 Now Live!

The RealTrends 500, now in its 34th year, remains the undisputed leading report ranking the performance of the top residential real estate brokerage firms.

Gathering of Eagles

The Gathering of Eagles conference is the Trusted Source, offering brokers, managers and leaders valuable insider industry information on how to run a profitable business.

RealTrending: eXp’s Glenn Sanford

Glenn Sanford, CEO of eXp World holdings, addresses his critics about his agent referral program, where he is taking the company next and growth limiters for the brokerage.

Newsletter

The RealTrends monthly newsletter is known as the trusted industry source for information on trends, strategies, analysis, people and news shaping the real estate industry of tomorrow.

REAL Trending Episode 9: 2017 Tax Act and Downsizing Baby Boomers

 

REALTrending with Steve Murray

An excerpt from Episode 9 – listen to the podcast in its entirety by clicking the audio file below. 

There are clear signs now that the housing market is shifting.  And it’s clear that especially in the upper half of the market we are seeing an accumulation of inventory, unit sales decline and prices softening. So what’s going on? It’s clear to us that a lot of medium to upper-income Americans went to see their tax accountants in the 2nd quarter to try and figure out the impact of the 2017 tax act and what would happen to them under those circumstances. Also clear, that for people who are above median income, the tax act did very little, in fact, it will cost those more!

RELATED: Listen To Past Episodes of REALTrending

Also, clear is the fact that we are seeing baby boomers wanting to move out of their larger homes and begin the downsizing process. One big problem – there are not enough Millennial, Generation X or foreign purchasers to soak up all the large, 2 story homes owned by boomers. And there are not of places for Baby Boomers to downsize to.

REALTrending Episode 9

The economy is very strong and housing will remain healthy – we will see a shift, and in fact, it’s already underway! What does a brokerage do? Well, it’s time to start talking to sellers.  The market has shifted and the prices of 3 or 6 months ago are yesterday and you will need to adjust your marketing and pricing strategies. Pay attention to your P&L because those higher priced homes are going to soften up. Don’t get caught thinking long when you need to be thinking short-term.

What more REALTrending? Find this podcast series and more on iTunes, GooglePlay Music, Soundcloud and on the REAL Trends website.

Most Popular Articles

Is Biden’s downpayment plan pouring gasoline on a fire?

The last time the federal government stepped in to help homeownership, we ended up with a housing crash. Is the Downpayment Toward Equity Act of 2021 the right legislation for today’s market?

Apr 20, 2021 By