T3 Insight
Executive brief: articles and latest news
T3 Sixty’s monthly executive brief providing analysis on the most important trends and developments as well as a quick digest of the most notable news in the industry.
The industry has so many stories, blogs, press releases and announcements each month that we all struggle to digest the information and distinguish between truly meaningful developments and hype or advertisement.
With T3 Insight, T3 Sixty analyzes developing trends, provides new brokerage industry best practices, and creates new perspectives on recent developments in technology, leadership, and organized real estate, in a monthly executive brief. It helps executives understand how the industry is changing in real time.
Each monthly executive brief also includes a composite of latest news and current articles under the title “What We’re Reading.”
June 2022
May 2022
April 2022
March 2022
February 2022
January 2022
December 2021
November 2021
October 2021
September 2021
August 2021
July 2021
Have a question? Connect with our executive editor, Paul Hagey.
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Articles
Individual deep dive topics that T3 Sixty explores as part of the monthly executive brief
The articles listed here are an alternative view of the composite monthly brief. This offers an easy way to view recent, chronological, articles.
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June 2022
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As the market swirls with seemingly conflicting trend lines of increased prices, low inventory and low days on market, this article explores a leading indicator of homebuyer demand in three markets.
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June 2022
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Real estate data standards play a key role in helping push the industry data and technology forward. This article highlights where it is in its effort to provide and implement data standards across the industry.
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June 2022
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MLSs and brokers are also collaborating in new ways to advance MLS service into a modern business that consumers need and want. This article dives into one strategy unfolding in Tennessee.
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May 2022
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Real estate leaders at the 2022 T3 Summit explored some compelling themes and trends the industry and brokerages currently face. This article provides a brief overview along with some highlights of trends discussed at the event.
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May 2022
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In T3 Sixty’s work with brokers and agents, three technology categories have become apparent that brokerages find they can significantly improve the efficiency and efficacy of their and their agents’ efforts. This article highlights these categories.
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May 2022
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The Mega 1000 reveals that the nation’s largest brokerages as a group have gained market share during the past several years, but the gains have been greatest among the very largest in this elite group. This article presents some of the numbers behind this market share consolidation.
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April 2022
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Well-operated real estate teams have long achieved profit margins that surpass brokerages. A new breed of brokerage company is looking to scale this opportunity by partnering with talented agent entrepreneurs and support them with comprehensive services and guidance into profitable real estate businesses. This article explores this new model.
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April 2022
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Hiring, keeping and retaining talent is perhaps the most important activity businesses can do to thrive and grow. People are the engine that animate all success. This article provides an overview of how to design and implement a comprehensive talent strategy.
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April 2022
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With the maturing of industry technology and the increasing advantage access to vast amounts of capital provides. The 2022 Corporations report shows one impact of this: the degree to which the big companies are outpacing even their large peers.
What We’re Reading
Notable industry articles curated with T3 Sixty’s perspective
Every month T3 gathers most important news across all companies, brands and regions and created an executive summary for quick and easy review.
- Article available on NPR
The trifecta of inflation, rising interest rates and low inventory makes for a unique real estate market for many buyers. This short NPR story provides insight into the nuance of these three conflating factors in the market.
- Article available on Inman
Greater Alabama MLS is participating in a program offered by Atlanta-based First MLS in which FMLS offers MLSs the ability to enter a data-share agreement and also leverage the sharing of tech tools and more. FMLS’s partnership program represents how some MLSs are finding unique ways to partner with other MLSs in innovative ways to broaden their scope, economies of scale and resources.
- Article available on Mortgage News Daily
Mortgage interest rates jumped to above 6 percent in mid-June, the highest rate in several years and an indication that that steady period of low mortgage interest rates look to be coming to an end. Low interest rates have been one key factor driving demand to very high levels as buyers raced to take advantage of record low rates. This period of rate-driven demand appears like it’s coming to an end.
- Article available on Marketwatch
Homebuyer surveys, falling mortgage applications and dropping new-home sales, provide data that reveals how the market is shifting. The diversity of data points outlined in this article, indicate that the real estate market is likely heading for a sustained shift. The depth, duration and other details of the shift, however, are still unclear.
- Article available on Census
Housing starts rose 14.6 percent in April from a year ago, according to U.S. Census Bureau data. This marks a continuing trend of increased starts, which measured approximately 1.2 million in April 2017 and in April 2022 came in at just above 1.7 million. Increased construction is one key element for relieving the country’s yearslong inventory shortage. If this increase sustains, and turns into more housing units, the industry’s supply-demand curve will become more balanced.
- Article available on NAR
The median existing-home price was $391,200 in April, up 14.8 percent from April 2021, marking 122 consecutive months of annual home price increases, the longest on record, according to NAR’s recent existing home sales report. April home sales, however, dropped 2.4 percent in April from March, and 5.9 percent from the previous year, a slowdown NAR attributes to increasing interest rates. The market remains in flux, however, as listed homes still sell quickly, with April average days on market standing at 17 days, the same as March and April 2021.
- Article available on New York Times
A trend of local communities pushing for slow growth and burdensome building and development protocols – known as the Not In My Backyard (NIMBY) movement – has played a significant role in the way many towns and cities manage growth and how, where and how much it costs for homebuilders to build homes. This article provides a deep first-person reported view of the NIMBY perspective, which provides insight into the passions behind the movement, and how it may evolve.
- Article available on Redfin
In the four weeks through May 29, over a fifth of sellers dropped their list price, a 2022 high and the highest percentage in any four-week period since October 2019, according to Redfin data. While the supply-demand curve is shifting slightly more in favor of buyers, buyers are contending with rising interest rates and, still, a relative dearth of homes for sale.
- Article available on Fortune
After great demand and supply-chain issues pushed lumber prices very high since the pandemic emerged, the last few months have seen prices drop, according to Nasdaq data. In January, lumber prices reached a height of $1,329 per thousand board feet but had fallen by over 50 percent in late May. The increased price of building materials due to imbalanced supply-demand metric of homes has been one big factor in stymying building, a critical relief valve in increasing the nation’s housing inventory.
- Article available on CNBC
Citing a slowing economy, Redfin and Compass announced layoffs of approximately 8 percent and 10 percent, respectively. In addition, Compass announced the closing of eight offices and plans to shutter Modus, the title company the firm acquired in 2020. Many real estate companies are reading the inflation and rising interest rate tea leaves, and preparing their businesses for a cooler real estate market. These types of changes at public companies such as Redfin and Compass provide a window into the kinds of adjustments many real estate companies are now faced with.