Market News January 3

Market Updates

Let's Get Ready to Rumble in 2025


Even though our business is always unpredictable, let's not hesitate to celebrate the new year together. Remember, I'm always here to assist you and your clients with the latest home financing strategies. Feel free to reach out so we can talk shop and make plans.

It's a Month for Dollars and Sense


While January may not be your busiest month, there are still things to do, especially as it's Financial Wellness Month. It's especially important if 2024 wasn't your best year, or if you're still smarting from the worst of inflation.

Here are some strategies to consider, or share via your social media postings:

Review last year's budget. Even if 2024 was a positive year, it had more than its share of challenges. If you've been able to minimize debt, congrats! If you followed a budget last year, it's time to review and tweak if needed.

Pay off debts sooner than later. Debt is especially stressful, so look for new ways to manage any that you've been forced to carry over from last year.

Set short and long-term financial goals. These are vital for lasting motivation. If you're unsure how your business will fare in 2025, it's fine to prioritize short-term goals.

If you'd like assistance with turning prospects into homeowners this year, contact me so we can discuss the ways I can help you.1

Tips for a Hard-Working 2025 Headshot


Even if you don't feel your looks have changed recently, January is a good time to arrange for a professional headshot photo. It'll give your confidence a boost, especially if you make sure to remember these tips (they were created for actors, but highly relevant for agents).

  • Go for a strong, confident facial expression. While you don't want to appear unfriendly, you also want to tell prospects that you're the ideal agent to guide them through a major financial transaction.
  • Be sure there aren't any distracting elements in the photo's background.
  • Be sure to keep retouching at a minimum. It's fine to fix a few stray hairs, but major alterations suggest that you're not 100% honest.2

How Yesterday's Elbow Room Morphed into Today's Guest Room


While there may not be many properties for sale in many areas, there's actually a lot of housing space that's currently gathering dust...the most in recorded history.

The number of extra bedrooms in American homes has reached the highest level since the U.S. Census began recording this metric in 1970. 2023 data recorded a new high in the number of extra bedrooms: 31.9 million. Back in 1980, there were just 7 million extra bedrooms.

The fourfold jump comes as the average number of people within a household has declined, from a high of 3.1 persons per household in 1970 to a record low 2.5 per household in 2023. (We don't know what those .1 and .5 people look like either.)

The average size of a new home grew during the famous "McMansion" era of the 1980 and 90s. However, builders have gradually been reversing that trend over the past years, as more buyers want eco-friendly homes with lower maintenance costs.

If your listings include one or more of these larger properties, staging the third or fourth bedroom as a yoga room or art studio may increase their appeal to today's smaller families.3

A Look at Last Year's Social Media Predictions

When 2024 began, it was difficult to predict where social media trends were headed. The addition of AI features, combined with a highly competitive real estate market, speeded up the pace in an already hyper marketing arena.

Let's look at a few predictions made by social media pros for 2024.

1. LinkedIn would become more important as it expanded past recruitment. This was one of the more accurate predictions, as LinkedIn has become the next frontier for creator growth and influencer marketing. Searches for "LinkedIn influencer" were up 17%, with "LinkedIn creator" up 5%. The site also saw more employee-generated content, which helped bring authenticity to the platform while reinforcing brands.

2. The year would see major growth in personalization. This included a shift from short-form content. This was proven accurate as platforms like TikTok and Instagram began embracing longer video formats. Google Trends reported that searches for the term "long form video" grew 35% in the past year.

Niche content also continued to find loyal followings, which led to the rise of micro-influencers. These were creators with smaller but highly engaged followings, posting personalized content.

3. AI would become more popular with users. AI tools that performed beyond ChatGPT were put into use during 2024, helping agents analyze user behavior to tailor content to their preferences. Agents that specialized in serving certain types of clients benefited from using AI to take a closer look at prospects' needs and expectations.

4. Private communities became a safe harbor. The shift towards private communities as a response to the need for deeper connections benefited agents, especially those who set these up for certain groups within their territory. Agents could introduce themselves to potential buyers and sellers months before they were ready to make a move.

These communities also provided a safe space for interactions without the toxicity sometimes found on larger social media platforms.4

Sources: 1focusfinancial.com, 2cityheadshots.com, 3cnbc.com, 4buffer.com