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Industry Landscape
The US residential real estate market is currently experiencing fluctuations driven by interest rates, inflation, and inventory levels. While demand remains strong in desirable urban centers like Manhattan, affordability challenges and economic uncertainty are impacting market activity. Luxury segments are often more resilient but can still be affected by broader economic trends.
Total Assets Under Management (AUM)
Existing Home Sales (Annual) in United States
~4.09 million (as of May 2024, annual rate)
(-2.8% (Year-over-Year, May 2024) CAGR)
Year-over-year decline in existing home sales. Driven by high mortgage rates impacting affordability. Limited inventory further constrains market activity.
Total Addressable Market
2.8 trillion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Market Analytics
Utilizing artificial intelligence and machine learning to analyze vast datasets for highly accurate property valuations, trend predictions, and hyper-personalized client recommendations.
Virtual Reality (VR) Property Tours
Implementing immersive VR experiences for property showings, allowing potential buyers to tour properties remotely and visualize modifications before physical visits.
Blockchain for Transaction Security
Leveraging blockchain technology to create secure, transparent, and immutable records of real estate transactions, potentially streamlining closing processes and reducing fraud.
Impactful Policy Frameworks
New York State Housing Stability and Tenant Protection Act of 2019
This act introduced significant changes to rent regulations, eviction procedures, and tenant protections across New York State, impacting landlord-tenant relationships and property investment dynamics.
This policy can affect property valuations and investor interest in multi-family properties within Manhattan, influencing Magnetic's client strategies for both buyers and sellers.
New York City's Local Law 97 (2019)
Local Law 97 mandates steep carbon emission reductions for most large buildings in New York City, with compliance deadlines and potential penalties starting in 2024.
This regulation will impact the operating costs and potential resale value of properties for Magnetic's clients, especially those with larger, older buildings in Manhattan.
National Association of Realtors (NAR) Settlement (2024)
The NAR agreed to eliminate rules requiring sellers to pay buyer agent commissions, allowing buyers to negotiate agent compensation directly, effective July 2024.
This nationwide policy will fundamentally change the commission structure for real estate agents, potentially impacting Magnetic's revenue model and requiring adjustments in client fee negotiations.
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