On this week’s episode of the Knowledge Brokers Podcast, Byron Lazine and Tom Toole start the conversation with the news that housing inventory is under one million again, which is likely to keep home prices from seeing any significant drops. 

Next came a discussion on how inflation has derailed home buying plans for 92% of millennials in the U.S., followed by the news that U.S. GDP rose 2.9% in the fourth quarter of 2022, defying expectations in spite of recession fears.

The conversation wrapped up with speculation as to the next Fed meeting on February 1st, with 98% of survey respondents expecting a rate increase of 25 basis points.

The final bit of good news was an increase of 25% increase in purchase applications, followed by some details on an upcoming “Best Agent Hacks” event.

Click on any of the timestamps below to watch:

00:00–00:39 Intro

00:39 Topic #1: Inventory below 1M again

02:48 How much is GOOD inventory?

08:14 NAR graph: “Median Price of Existing Home Sales”

09:24 Byron’s strategy for listing agents in 2023

12:11 Topic #2: 9 out of 10 millennial home buyers say inflation is impacting their decision

26:50 How much time per day should an agent be absorbing content on their market

30:12 Preparing for two different types of conversations 

33:16 Topic #3: GDP up 2.9% in Q4 2022

37:11 98% expect a Fed rate hike of 25 basis points

41:20 Chart: “Target Rate Probabilities for Feb 1, 2023 Fed Meeting”

42:51 Topic #4: Purchase applications are up 25%

44:50 The “Best Agent Hacks” event 

Click here to watch the full episode.