For this week’s Knowledge Brokers Podcast, Lisa Chinatti once again joins Byron Lazine and Tom Toole to discuss the impact of the most recent Fed rate hike of 25 basis points, followed by a warning from Jerome Powell at the post-FOMC-meeting press conference, which flipped the script and had a noticeable effect on the stock market.
Byron, Lisa, and Tom explore the short-term impact of the Fed rate hike on the U.S. housing market as well as the welcome increase in existing home sales, which rose for the first time in a year.
They also cover inventory, with the rise of new listings, the difference between those and fixer-upper properties on the market, and the shortage of options in between, where most buyers are facing the stiffest competition for available homes.
Also discussed are the importance of lead conversion rates, property tax increases, future Fed rate hikes, and what agents should be discussing with buyers to maximize their home equity growth.
Click on any of the timestamps below to watch:
00:48 Lisa’s take on the Fed’s 25 bp rate hike
02:02 Byron’s take on the rate hike and why he’d hoped for a pause
03:22 Tom’s take and the benefits of an expected outcome
08:13 Powell’s comment on the housing market
10:34 New construction, existing homes, and the vacuum between
17:08 Powell’s comments on the job market & agent spending (and saving)
20:03 Lead conversion numbers vs. having the biggest pipeline with the lowest cost per lead
25:05 Chart: “Home price growth by months into the decade” (Lance Lambert/Fortune)
27:04 Discuss this with your buyers to maximize their home equity growth
35:04 Final thoughts heading into the weekend and next week
35:49 Property tax increases and their impact on the housing market
Click here to watch the full episode.
