On this week’s episode of the Knowledge Brokers Podcast, Byron Lazine and Tom Toole begin by discussing the increase in mortgage applications noted in the latest MBA Weekly Survey.
Next up was some good news about homebuilder sentiment, which saw an increase in January—the first in a year—thanks to the recent drop in mortgage rates.
Then the conversation turned to total housing inventory and why we need more single-family housing completions for buyers to enjoy the affordability that has eluded them over the past several months.
Finally, they discussed what agents should be telling their clients—and how best to articulate the advantages of selling now rather than waiting until spring.
Click on any of the timestamps below to watch:
00:25 Optimism about this week’s housing market news
00:53 Mortgage applications are up 28% from one week earlier
04:13 Millennial homebuyers
05:47 Having a multiple-offer mindset
10:23 Byron’s biggest worry right now
15:36 Prices are going to drop, but only because…
15:57 Tom’s expectations regarding the Fed
21:32 Creating an ad to show sellers why now is a good time to sell
24:27 Increase in inventory: “We need to double up again.”
28:58 The biggest issue right now is the supply of single-family homes
34:25 What agents should be telling sellers (Hint: NOT “Wait ‘till the spring”)
35:50 The changing playbook and the need to track changes on a daily/weekly basis
Click here to watch the full episode.
