Buyers show sensitivity to mortgage rate fluctuations Mortgage applications are seeing a 25% jump in volume compared to the same period last year, fueled by a drop in loan rates, inventory gains and moderating home price growth. Existing homeowners are also capitalizing on low mortgage rates, prompting refinancing applications to surge. But the momentum might not last, as rate averages climbed again after five weeks of declines. Full Story: REALTOR® Magazine (7/11)
Best Practices in Sales & Marketing
LinkedIn adds analytics data for posts LinkedIn's new Member Post Analytics APIs give user accounts access to data about post performance via third-party tools like Hootsuite, Buffer and Sprinklr. Options include video analytics, providing insight into a format in which viewing time rose 36% last year, which increases engagement by 1.4 times compared to other types of posts and which people share 20 times more than non-video content. Full Story: Social Media Today (7/9)
Real Estate Trends
Homeownership cost burden reaches decade-high A First American analysis shows that 16.9 million US homeowners spent 30%-plus of their income on housing in 2023, the most in more than a decade. The trend is driven by younger homeowners entering the market and older homeowners trying to stay in their homes amid rising costs. Full Story: Mortgage Professional America (7/10)
California home listings up 50% as prices dip 1% California's housing market is seeing a 50% jump in active listings compared to two years ago, but asking prices have dipped just 1%. Despite the increase in listings, California remains one of the most expensive states for homebuyers, with an average listing price of $764,000. Full Story: The Tribune (San Luis Obispo, Calif.) (7/10)
Technology & Innovations
Coastal homes' design evolves to bolster storm resilience Some homeowners along the East and Gulf Coasts are investing more in climate-resilient design in light of hurricanes' rising frequency and intensity. Home features such as aerodynamic shapes, reinforced roofs and flood vents can help structures withstand wind up to 190 mph and reduce homes' flood risk. "Your roof is your first line of defense" and "helps hold everything together in your home," said Sarah Dillingham, senior meteorologist at the Insurance Institute for Business & Home Safety. Full Story: CBS News/Climate Central (7/8)
IKEA plans to release 20 smart home goods early next year, marking its largest effort to date to make the technology accessible and affordable for most consumers. The Dirigera hub, compatible with the Matter standard, will be the centerpiece, ensuring interoperability with devices from various brands. Previous efforts included smart bulbs and partnerships, but this new range is designed for universal compatibility and ease of use. Full Story: Fast Company (tiered subscription model) (7/10)
Business Wellness
How managing chaos at home can improve your leadership Focusing on "strategic renewal at home," by proactively adapting routines and creatively solving family challenges -- such as streamlining chores or trying new systems -- can build skills that directly translate to greater adaptability, innovation and leadership at work, according to research from Yasin Rofcanin, a professor at the University of Bath and Siqi Wang, a lecturer at Aston Business School. Encourage this bridging of skills with flexible work arrangements and training that boosts your team's ability to handle challenges, Rofcanin and Wang suggest. Full Story: The Conversation (7/10)
Affordable housing project in Colorado nears completion The Homestead affordable housing project in Mount Crested Butte, Colo., is nearly finished, with 12 of 22 deed-restricted residences already occupied. The project faced delays after the original developer failed to complete construction, but Bywater Development has taken over and expects to complete the remaining units by September. The town has purchased two units for employee housing. Full Story: Crested Butte News (Colo.) (7/9)
The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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