082: Spring 2023 Housing Market Data Update with NAR’s Dr. Jessica Lautz
Center for REALTOR® Development
Release Date: 03/22/2023
111: Center for REALTOR® Development 111: 2025 National & Local Market Outlook with Dr. Jessica Lautz from NAR: Part 2
Center for REALTOR® Development
Welcome, friends, to the Center for REALTOR® Development podcast from the National Association of REALTORS®. We are here in Part 2 with my guest, Dr. Jessica Lautz from NAR. Dr. Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®. We are releasing this interview in two episodes. This is Part 2. Now, each one of these episodes stands alone, but we encourage you to start with Episode 1 or even go back to it for some more context. [1:10] Welcome back, my favorite data researcher! Thank you so much...
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110: Center for REALTOR® Development: 2025 National & Local Market Outlook with Dr. Jessica Lautz from NAR: Part 1
Center for REALTOR® Development
Welcome, friends to the Center for REALTOR® Development podcast from the National Association of REALTORS®. I am so glad you are joining me and today’s guest, Dr. Jessica Lautz from NAR. Dr. Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®. I love, love, love my data friends and I always learn things to help me and my clients. These trends are so huge when talking with our clients and preparing ourselves, as well as just getting in the nitty gritty because our clients are looking at that...
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109: Center for REALTOR® Development: Mastering Win-Win Negotiation Strategies with Evan Fuchs: Part 2
Center for REALTOR® Development
Evan Fuchs is back with us for Part 2 of our conversation on negotiation, a favorite topic of mine! Welcome back! Markets will shift, and changes are happening. We need to remember the core tenets and basics of good negotiation while remembering that the details change from client to client. Some of you work in different markets or states, and you need to be aware of those details to help you negotiate specifically for what you and your client need. Negotiation is one of those significant topics I suggest we learn about constantly. Evan Fuchs is a 28-year...
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108: Center for REALTOR® Development: Mastering Win-Win Negotiation Strategies with Evan Fuchs: Part 1
Center for REALTOR® Development
Today’s topic is so essential: negotiation! It has always been important. As our markets have been shifting and industry changes are happening, we need to go back to remembering the basic and core tenets of good negotiation while also understanding the nuanced parts of that shift within the market and the specific needs of our clients. My guest today, Evan Fuchs, is a 28-year award-winning REALTOR® and industry leader from Bullhead City, Arizona. Negotiation is one of those topics we need to learn about all the time. Unless you’re writing a book on...
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107: Center for REALTOR® Development: Tech Meets Property: AI Trends in Real Estate with Dan Weisman: Part 2
Center for REALTOR® Development
We are in Part 2 of my conversation with Dan Weisman about AI in the real estate industry. Dan is a director of innovation strategy in the Strategic Business Innovation and Technology Group at the National Association of REALTORS®. In his role, he researches technology, strategizes what this tech may mean in the future, and builds relationships with tech leaders to better understand and drive innovation in the real estate space. This episode is where we get practical, starting with using generative AI instead of Google for searches. How would that help you? What...
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106: Center for REALTOR® Development: Tech Meets Property: AI Trends in Real Estate with Dan Weisman: Part 1
Center for REALTOR® Development
Today, we will talk about AI in the real estate industry with Dan Weisman, a director of innovation strategy in the Strategic Business Innovation and Technology Group at the National Association of REALTORS®. In his role, he researches technology, strategizes on what this tech may mean in the future, and builds relationships with tech leaders to understand better and drive innovation in the real estate space. He is in the thick of thought leadership, creating new things for us. I asked him how I, as an agent, could personally use AI to help me in my business....
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105: Center for REALTOR® Development: Buying that First Home: Insights from a Gen Z Buyer and Generational Trends with Ali Whitley and Martin Whitley: Part 2
Center for REALTOR® Development
Today we have Ali Whitley and her son Martin Whitley back with us for Episode 2, where we discuss generational dynamics in the workplace and with our clients. Martin tells us more about his journey and how he decided he needed the specific house he purchased. There might be a pet involved! We discuss how it is a discouraging time for first-time home buyers, but there are ways you can get into the market. These two episodes are great to share with your clients! We are talking to REALTORS®, but this conversation is great for giving hope to potential buyers...
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104: Center for REALTOR® Development: Buying that First Home: Insights from a Gen Z Buyer and Generational Trends with Ali Whitley and Martin Whitley: Part 1
Center for REALTOR® Development
People are all different. With an open attitude on our part, they are a constant source of opportunity for education, and learning. I love learning from other people. One of my favorite topics over the last 10 years or more has been about generations. I’ve been learning and teaching about how people of different generations act and react since I began teaching the Senior Real Estate Specialist course in 2009. While stereotyping people is never good as a general rule, there are some things we can learn from studying cultural differences and commonalities within a group. My guests this month,...
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103: Helping Your Buyers Purchase New Construction with Trenesha Harrison Part 2
Center for REALTOR® Development
Here we are, back with Trenesha Harrison, for Episode 2 on New Construction. In our first episode, we discussed new construction from the perspective of the on-site agent, which is how Trenesha started in real estate. In this episode, we’ll discuss how to help you be more prepared as a buyers’ agent, bringing your buyer to the new home community. The two episodes go together, so we suggest you listen to both. Trenesha lives in Oklahoma City, Oklahoma, and she loves new construction because it’s always changing; it’s always different, and there’s so much that we can learn from...
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102: Helping Your Buyers Purchase New Construction with Trenesha Harrison Part 1
Center for REALTOR® Development
I love to be able to participate with my buyer clients when they want to buy new construction. I have bought two new homes, and I love the process of choosing what I want, watching it get built, then knowing how it was built, and having time to make a plan for the move. It’s not for everyone but it is a great option for a lot of people, and it is generally a bit more reliable than what we encounter with resale purchases; not always, but generally. Not all agents feel comfortable selling new construction, though. My guest this month, Trenesha Harrison, and I are going to help you see the...
info_outlineDr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®. In this episode, she is going to share national data with us from NAR and discuss what she sees coming in the future. All of our crystal balls may be broken, but there are definitely patterns that can be seen. The core of Jessica’s research focuses on analyzing trends for both NAR members and housing consumers. Through the management of surveys, focus groups, and data analysis, she presents new and innovative ways to showcase results. Let’s see what she will teach us in this episode!
[2:46] Jessica thinks we’re in a moment of transition when existing home sales data show 12 months of decline but the decline seems to be getting smaller.
[4:24] Our current sales numbers are lower than in 2019, before the pandemic. They are more in line with 2014 sales numbers.
[6:51] The typical homeowner has been in their home for 10 years and has $210,000 in home equity.
[7:14] In some scenarios, not only investors but a large share of primary residence repeat buyers are paying all cash for a home, because of the housing equity they have.
[9:34] Home mortgage interest rates had gone down for several weeks continually before going back up to 6.3% from 6.1%.
[10:53] Jessica says to pay attention to what happens after the Fed meets. NAR tracks interest rates and puts out a statement every Thursday on social media.
[12:30] Jessica explains the indirect effect that the Fed raising interest rates may have on mortgage loan interest rates.
[13:41] Jessica hopes that existing home sales in spring will be stronger than it was in the previous two months. She is starting to see early signs of it.
[15:52] Jessica breaks down corporate investors. We know that they’re present in the market, but has their share of the market gone up?
[16:41] The investors of 2022 pushed first-time homebuyers out of the market.
[18:18] In March of 2022 there were five-and-a-half offers for every home that was listed.
[19:02] Jessica discusses credit card debt, student loan debt, and daycare costs. How are first-time homebuyers going to save a down payment when they use their credit card to buy eggs and milk?
[22:01] Jessica believes that awareness of low-down-payment programs in communities is low. Putting that information out there for potential buyers is incredibly important.
[25:15] Jessica discusses the aging population and the housing market. In the next three years, every Baby Boomer will be over the age of 60.
[26:36] Retirees are looking for newer homes with bells and whistles where they can age in place.
[33:54] Jessica shares a few of her favorite data points.
[37:31] Jessica also shares that a lot of first-time homebuyers are trying to get out of their parents’ homes and move into home ownership.
[38:08] Jessica shares her links for NAR Research at NAR.realtor. You can also subscribe and share infographic posts from NAR Research on Instagram, Facebook, and Twitter.
Tweetables:
“We released our existing home sales data and it showed a continual decline — 12 months of decline — but it seems like the decline is getting smaller. … [It] is not necessarily a normal spring market; … interest rates are still high, but a more normal spring market.” — Jessica
“Buyers are coming back. They understand now that rates are higher but they may actually have an opportunity in the market, especially first-time homebuyers.” — Jessica
“It’s also your long-term future. It’s also the long-term savings and the gains that you have in home ownership that you don’t have as a renter.” — Jessica
“Only 26% of the market was first-time homebuyers last year. In a healthy market, it would be 40%. So we really lost first-time homebuyers last year.” — Jessica
Guest Links:
Additional Links:
Micro courses found at Learning.REALTOR. Use the coupon code PODCAST to obtain 15% off the price of any online class!
Learning.REALTOR for NAR Online Education
Training4RE.com — List of Classroom Courses from NAR and its affiliates
New! Home Finance Resource (HFR) Certification
Host Information:
Monica Neubauer
Speaker/Podcaster/REALTOR®
Monica’s Facebook Page
Instagram.com/MonicaNeubauerSpeaks
Additional Bio:
Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®. In 2021, Dr. Lautz was named one of Housing Wire’s Women of Influence, a list representing 100 of the most influential women in leadership in the housing industry. In 2022 and 2023, Dr. Lautz was named RIS Media Newsmaker in My Influencer and Crusader categories, respectively.