285: Key Real Estate Trends from the 2024 NAR Report
Hustle Humbly Podcast · Alissa Jenkins & Katy Caldwell
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Show Notes
It's that time again—our annual deep dive into the National Association of Realtors' Profile of Home Buyers and Sellers! This is your chance to learn what's really going on in the real estate market and how it impacts your business.
We're covering:
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Why the typical first-time homebuyer is now 38 years old.
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How buyers are adjusting to higher interest rates and home prices.
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What's driving sellers to move (and where they're going).
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Key takeaways for Realtors about repeat and referral business.
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FSBO stats that will make you feel great about your job security.
Plus, we take a hard look at the numbers behind agent income, transactions, and tenure in the business. Spoiler alert: If you're feeling like the market's been tough, you're not alone!
This episode is packed with actionable insights and the data you need to prepare for 2025. Don't miss it!
Key Quotes/Takeaways
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"The typical first-time buyer is now 38 years old, and first-time buyers make up the smallest share of the market since 1981."
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"90% of sellers used a real estate agent this year, and FSBO sales hit an all-time low at just 6%."
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"The median income for Realtors is $55,800, with 41% of agents still relying on a second source of income."
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"Buyers are using the internet 100% of the time in their home search. Professional photos and a mobile-friendly website are non-negotiable."
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"Only 21% of repeat buyers used the same agent they worked with before. If you're not staying in touch with your clients, they're moving on."
Products, People & Previous Episodes Mentioned
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Profile of Home Buyers and Sellers Report – Available on NAR's website: nar.realtor/research-and-statistics
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Forever Home Episode – Learn why no home is truly forever: hustlehumblypodcast.com/forever-home
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Agent Systems Course – Stay organized and grow your business: hustlehumblypodcast.com/agent-systems
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