🎯 Market Numbers
S&P 500 5,667.20 +35.98 (+0.64%) | Dow 30 40,954.48 +742.76 (+1.85%) | Bitcoin USD 65,929.71 +1,133.18 (+1.75%) |
|---|---|---|
S&P U.S REIT 349.65 +3.93 (1.14%) | FTSE NAREIT Equity REITS 770.20 +8.59 (+1.13%) | Dow Jones U.S Real Estate Index 356.93 +4.01 (1.14%) |
Freddie Mac 30-Yr FRM 6.89% 1-Wk (-0.06) | Freddie Mac 15-Yr FRM 6.17% 1-Wk (-0.08) |
Market Numbers are as of July 16 2024 5pm EST
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🔍 Spotlight
Florida Real Estate Agent predicts housing market for the next 5 years
Population Boom Drives Demand: Experts predict Florida's population growth will continue for decades, driven by favorable climate, tax policies, and retirement appeal. This influx is expected to sustain housing demand and potentially increase property values, particularly in metropolitan areas like Miami, Orlando, and Tampa.
Rising Prices and Suburban Expansion: Home prices are anticipated to steadily increase through 2029, though possibly at a slower rate than the post-pandemic boom. As urban areas become more expensive, experts foresee increased development in suburban and rural regions, offering more affordable options and promoting growth in less developed areas.
Climate Change and Tech Integration: Climate change will significantly impact the market, potentially decreasing demand in flood-prone coastal areas while increasing interest in resilient inland properties. Simultaneously, technological advancements like virtual tours, AI-driven marketing, and blockchain are expected to streamline and modernize real estate transactions.
30-year loan increased to 6.95% according to Freddie Mac

Mortgage Rates Inch Up: The 30-year fixed-rate mortgage average rose to 6.95% from 6.86% last week, ending a four-week streak of declines. This puts rates back to mid-June levels and significantly higher than the 6.81% average from a year ago.
Inventory Increases, But Demand Lags: Housing inventory has risen nearly 20% annually to 1.28 million in May, the highest level in almost three years. However, mortgage applications remain 13% lower than last year, with experts attributing the sluggish demand to record-high home prices.
Affordability Challenges Persist: At current rates, a homebuyer would pay about $2,220 monthly on a median-priced home with a 20% down payment - nearly $800 more than when rates were around 3% in 2021. This affordability issue continues to impact the housing market, despite the increase in available inventory.
Falling U.S. real estate commissions could impact Canada’s market
U.S. Commission Changes: Starting August 17, U.S. real estate agents will no longer list the commission payable to buyer agents when hired, potentially reducing overall commission costs by 20-30% in competitive markets.
Predicted Commission Drop: Experts anticipate U.S. real estate commissions falling from the current 5-6% range to 3-4% within a year of this change, significantly impacting the industry.
Potential Canadian Impact: While similar changes aren't immediate in Canada, ongoing class action lawsuits mirroring U.S. cases could lead to comparable commission reductions in the Canadian real estate market. This shift might also result in fewer real estate agents operating in Canada.
Chart of the Day belongs to real estate investment company KKR & Company

Strong Technical Indicators: KKR & Co. Inc. shows robust technical strength, with 100% buy signals, a 92.22+ Weighted Alpha, and a 89.83% gain in the last year. The stock is trading above its 20, 50, and 100-day moving averages, indicating a strong upward trend.
Positive Fundamental Outlook: With a market cap of $98.27 billion, KKR boasts impressive growth projections. Revenue is expected to grow 17.70% this year and 31.70% next year, while earnings are estimated to increase by 37.10% this year and 29.90% next year, with a projected 28.48% annual growth rate over the next 5 years.
Mixed Analyst Sentiment: Wall Street analysts are largely positive, with 9 strong buy, 7 buy, and 2 hold opinions. However, there's some divergence in valuation estimates, with price targets ranging from $107 to $145, and Morningstar rating it as 19% overvalued. This suggests potential for both growth and volatility.
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👉 More Stories
“Trillions of dollars of problematic commercial real estate will have to be worked out over the next two to three years, creating an “amazing amount of opportunity” for investors, according to Marathon Asset Management Chief Executive Officer Bruce Richards.
Keyway Appoints Head of Business Development & Strategy as it Reinforces on the AI Technology Developed for Real Estate Teams
China’s residential real estate market, which has been in a downturn for three years, is showing signs of recovery due to recent government interventions.
Bengaluru-headquartered real estate investment management firm Altern Capital has launched its maiden fund targeting a total of ₹250 crore
🏠 Toolkit
8 Projects Realtors Recommend Before Bringing Your Home to Market

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Declutter and Deep Clean: 96% of Realtors recommend decluttering, while 88% suggest a thorough cleaning. These steps create a positive first impression, enhancing the home's appeal and potentially increasing buyers' willingness to make offers.
Repair and Refresh: 72% of Realtors advise minor drywall repairs, while 57-58% suggest touching up or repainting problem walls. These improvements present a well-maintained, move-in ready appearance that can prevent buyer concerns about the property's condition.
Enhance Curb Appeal and Depersonalize: 50% of Realtors recommend improving landscaping to boost curb appeal, while 65% suggest removing personal items to help potential buyers envision themselves in the space. These steps can significantly increase a property's desirability and marketability.
📸 Dwelling’s
Escape to a cozy cabin tucked away in the peaceful mountains of East Tennessee.
Sold Listing 110 Arney Ln, Mountain City, TN 37683

And…that's a wrap on this edition!
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