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Industry Landscape
The US residential real estate market is currently experiencing a complex phase. High interest rates are impacting affordability and demand, leading to a cooling effect in some areas. Inventory remains a challenge, with many homeowners reluctant to sell and lose their lower mortgage rates. Despite these headwinds, demand persists in desirable locations, and new construction aims to alleviate supply shortages.
Total Assets Under Management (AUM)
Existing Home Sales in United States
~4.07 million (as of April 2024)
(-1.9% CAGR)
- Existing home sales decreased from the previous month.
- Sales are down significantly year-over-year.
- Affordability challenges and limited inventory are key factors.
Total Addressable Market
2.9 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Predictive Analytics
AI algorithms analyzing vast datasets to predict market trends, property values, and buyer behavior, offering deeper insights for agents and consumers.
Virtual and Augmented Reality (VR/AR) Tours
Immersive technologies enabling prospective buyers to remotely explore properties with realistic virtual walkthroughs and AR overlays.
Blockchain for Property Transactions
Decentralized ledger technology to secure and streamline property records, ownership transfers, and smart contracts, enhancing transparency and efficiency.
Impactful Policy Frameworks
National Association of Realtors (NAR) Settlement (2024)
The NAR agreed to eliminate rules requiring a cooperating broker compensation offer on the MLS, and to mandate buyer brokers enter into written agreements with their clients.
This policy will likely alter commission structures, potentially shifting more financial responsibility to buyers and requiring real estate agents like Brenda Thompson to clearly define their value proposition and compensation directly with buyer clients.
Increased Scrutiny on Mortgage Lending Practices (Ongoing)
Regulatory bodies continue to increase oversight on mortgage lenders, focusing on fair lending practices, consumer protection, and transparency in loan terms, especially in a high-interest rate environment.
This directly impacts the affordability for potential homebuyers, making securing financing more complex and requiring Brenda Thompson to stay informed on lending criteria to guide her clients effectively.
Local Zoning and Land Use Reforms (Vary by Municipality)
Many local governments are implementing zoning reforms to address housing shortages and affordability, including allowing more multi-family dwellings or reducing minimum lot sizes.
These changes can alter the types of properties available, influence neighborhood development, and affect property values, requiring Brenda Thompson to have updated local market knowledge to best advise her clients.
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