In 2022, fewer than 1 in 10 homeowners had rates above 5%.
Today, it’s more than 1 in 3.
The long term implications of this trend are:
Length of homeownership will
increasedecrease (this will take a few years). People are staying in their homes twice as long as they did 20 years ago.A boom of first-time home sellers. Sub-3% rates held young families hostage in their homes. In a stable interest rate environment, we should significant up-tick in the # of first-time sellers moving up.
5M home sales. As the ZIRP era fades into memory, buyers are less likely to feel like they’ve missed the boat on buying a home. I predict we’ll break back into 5M sales by the end of 2027.
So what do you do with this information? Share it. Post it. Mail it. Shoot it.
Whatever you do, get it out there.
If you don’t control the narrative, someone else will.
Let’s keep building,
Jimmy
P.S. I already wrote the campaign for you. :) here’s the exact email you should send to your database right now.