In this edition of The Real Word, Byron Lazine and Nicole White offer insights on NAR’s pending-home-sale stats, discuss the Russian invasion of Ukraine and name Tom Toole Marketeer of the Week.
Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in The Real Word, a weekly video column on Inman.
Pending home sales dipped by 9.5 percent year over year, according to data from the National Association of Realtors. “Consumers are probably thinking that the market is slowing down,” Nicole said, but both Byron and Nicole agreed that they were not seeing a retreat in demand. There are fewer homes for sale, which is why there are fewer contracts.
In answer to a viewer question about how the Russian invasion of Ukraine might affect the real estate market, Byron referred to reports that the luxury market and crypto are the most at risk from a major conflict. “One out of four buyers right now are investors using cash, and a ton of people are still buying homes in cash. I don’t think inflation related to everyday expenses is going to impact cash buyers,” Byron said. In fact, some indicators show that interest rates may dip back down in response.
Marketeer of the Week
Team leader Tom Toole was Marketeer of the Week for his article, 6 creative ways to reboot a chilly lead. Nicole’s favorite tip was No. 6, “Be the knowledge broker.” Byron liked No.s 3 and 4, “Follow up with sales data and relevant market information” and “Send a monthly market update.”
Want to nominate a “marketeer of the week”? Drop your thoughts in the comments section below, or shoot us an email.