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ClarityNOW : Dec 16, 2024 1:27:39 PM

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ClarityNOW Newsletter

We're thrilled to introduce our new weekly newsletter, designed to keep you informed, inspired, and ahead of the curve. In this week's newsletter:

This week in Real Estate: Buyers Expect a Rosier 2025 Housing Market
Tips & Best Practices: Refresh Your Brand
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This week in Real Estate: Buyers Expect a Rosier 2025 Housing Market

The National Association of REALTORS® (NAR) anticipates a more favorable housing market in 2025, following the challenges of 2023 and 2024. NAR's Chief Economist, Lawrence Yun, forecasts a 9% increase in existing-home sales for 2025, with new-home sales expected to rise by 11%. This positive trend is projected to continue into 2026, with existing-home sales increasing by 13% and new-home sales by 8%.

National Association of Realtors

Home prices are also expected to experience modest growth, with the median home price projected to increase by 2% in both 2025 and 2026.

National Association of Realtors

Mortgage rates are anticipated to stabilize around 6%, with several interest rate cuts expected over the next two years. Yun suggests that the "locked-in" effect—where homeowners feel stuck with their current low mortgage rates—will diminish over time, potentially leading to increased housing inventory.

National Association of Realtors

Additionally, the profile of home buyers is evolving. NAR's 2024 Profile of Home Buyers and Sellers indicates a rise in all-cash buyers, multigenerational purchases, and single buyers. The median age of first-time home buyers has reached an all-time high of 38, reflecting the challenges of affordability and the need for longer periods to save for down payments.

National Association of Realtors

Overall, these projections suggest a more optimistic outlook for the housing market in 2025, with increased sales activity, stabilized mortgage rates, and evolving buyer demographics.

Tips and Best Practices:

Refresh Your Brand

Dahlia El Gazzar, founder of Dahlia+Agency, emphasizes the importance of redefining and strengthening personal brands in the real estate industry. At the NAR NXT event, her team offered personalized consultations to attendees, focusing on self-empowerment and brand enhancement. El Gazzar provides four key strategies for revitalizing your brand:

Identify Your Unique Strengths: Recognize your distinctive skills—be it empathy, analytical abilities, or a robust client network—as the foundation of your personal brand.
Enhance Your LinkedIn Presence: Ensure your LinkedIn profile is comprehensive and active. Share content that reflects your brand and engages your network.
Mind Your Digital Body Language: During virtual interactions, maintain professionalism through appropriate attire, facial expressions, and attentiveness, avoiding distractions like checking your phone.
Focus on Positive Triggers: Shift attention from daily stressors to uplifting moments, such as positive client feedback or personal achievements, to maintain motivation and resilience.

Implementing these strategies can help real estate professionals distinguish themselves in a competitive market.

National Association of Realtors

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