Mortgage rates likely to remain stable after Fed move

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7 ways real estate pros can keep more of their money | YouTube leads in popularity, TikTok grows fastest | Are these generational barriers hampering communication?

Created for [email protected] | Web Version

February 2, 2024

Top News

7 ways real estate pros can keep more of their money Learn from a CPA how to take advantage of every single tax break you're owed as a small business owner. Full Story: REALTOR® Magazine (1/31)

Best Practices in Sales & Marketing

YouTube leads in popularity, TikTok grows fastest YouTube is the most popular platform with 83% usage among U.S. consumers, followed by Facebook (68%), Instagram (47%) and Pinterest (35%) while TikTok is making the most significant strides, growing from 21% penetration in 2021 to 33% last year, per Pew Research Center. Among demographics, TikTok is favored by 49% of Hispanic, 39% of Black, 29% of Asian and 28% of white adults. Full Story: TechCrunch (tiered subscription model) (1/31), Engadget (1/31)

Are these generational barriers hampering communication?

(VioletaStoimenova/Getty Images)

Baby boomers and Generation X employees often like to communicate face-to-face or talk on the phone, but their millennial and Generation Z colleagues prefer texts, emails or social media posts, which means each generation must tailor their techniques and honor each other's preferences to work together, writes John Millen. "In the end, the answer is for each of us to grow in our understanding of continually evolving communication preferences, styles and technology," Millen concludes. Full Story: John Millen blog (1/27)

Survey: Consumers support inclusive marketing A survey of U.S. consumers by Morning Consult found support for inclusive marketing that reflects American diversity, with higher percentages of younger demographics saying brands should make an effort, compared with Generation X and baby boomers. However, diverse marketing was reported as one of the least important factors in buying behavior overall, though for some respondents—Hispanic, Black and Gen Z audiences—representation matters and can influence purchase decisions. Full Story: PR Daily (2/1)

Real Estate Trends

Mortgage rates likely to remain stable after Fed move The Federal Reserve signaled possible rate cuts to come, which could influence lower mortgage rates and spur housing activity. Full Story: REALTOR® Magazine (2/2)

Single-home mega-deals rise The U.S. housing market has seen a significant uptick in homes selling for $100 million or more, marking a surge in nine-figure sales. This surge reflects massive wealth creation and migration, particularly noticeable in Florida, where the number of nine-figure deals has dramatically increased. Full Story: The Wall Street Journal (1/31)

Wealthy home buyers look for cash deals Wealthy buyers are increasingly purchasing luxury homes with cash, unaffected by mortgage rates. Redfin reports that almost half of all high-end U.S. homes were acquired without a mortgage in the last three months of 2023. Full Story: Quartz (2/1)

Business Wellness

REALTOR® turns purses into lifelines for women in need Idaho real estate professional Launee Wolverton packs handbags and backpacks with essential products and gives them to homeless and underprivileged women. Full Story: REALTOR® Magazine (2/2)

News from NAR

Sears on the road: Getting back to basics

(National Association of REALTORS®)

President Kevin Sears shares a message from the road about developments at NAR and the association's continued advocacy in support of your business. Watch his message to you.

Fair & Equitable Housing

Boston nonprofit plans affordable housing for seniors B'nai B'rith Housing, a Boston-based nonprofit housing developer, presented plans to redevelop a Cambridge Highlands site under the city's Affordable Housing Overlay policy to create 110 low-cost one-bedroom units for senior residents. Residents at the planning meeting expressed approval, with one saying, "It's a great opportunity to use the Affordable Housing Overlay to create some long overdue lower-cost housing." Full Story: The Harvard Crimson (2/1)

Legislation & Regulation

House lawmakers voice bipartisan concerns on Basel III Democrats on the House Financial Services Committee raised concerns over how bank regulators' Basel III endgame proposals would affect a number of areas, including mortgage lending and green energy finance. The Democrats joined Republicans in expressing serious issues with the legislation, with Rep. Brad Sherman, D-Calif., calling the proposals "poorly tailored regulations." Full Story: Politico Pro (subscription required) (1/31)

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About The National Association of REALTORS®

The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.

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