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February 2022

T3 Insight Monthly Executive Brief

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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. Here are this month’s articles.

Sailing ship
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February 2022
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With deepening collaborations, MLSs embark on new era

MLS organizations are looking to control more of their own technologies and futures by owning equity in the tools and services they and their subscribers rely on, either alone or in partnership with other MLSs.
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February 2022
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VIDEO: Breaking down the 2022 Organized Real Estate release

Clint Skutchan, senior vice president of organized real estate at T3 Sixty and the lead researcher for the publication, hosts a conversation with three organized real estate leaders to help digest the numbers in the 2022 ORE.
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February 2022
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Behind the 2022 Organized Real Estate Data

MLS organizations are looking to control more of their own technologies and futures by owning equity in the tools and services they and their subscribers rely on, either alone or in partnership with other MLSs.
Continue Reading

In addition to the three deep-dive articles above, T3 Sixty has, in addition, identified a collection of noteworthy articles from various news sources. Here are those honorable mentions.

Median existing home price increases set record in 2021

  • Article available on NPR
In 2021, the median existing home price was $346,900, which represents a 17.0 percent jump from 2020, and an all-time record in price appreciation. Record low inventory, fueled in part by demand inspired by low mortgage rates, has helped push home prices to these highs. Economists expect this trend to dampen slowly in 2022 as mortgage rates rise.
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Startups raised $330B in 2021, nearly double the amount from 2020

  • Article available on New York Times
Outsized investment has reshaped the real estate industry, and 2021 data reveals that investment money, overall, is still flowing. Startups across all industries raised $330 billion in 2021, nearly double what startups raised in 2020, as investors look to take advantage of the pandemic-enhanced shift to digital. Real estate, of course, has seen this impact, especially in regard to the great amount of funding poured into AltFin companies.
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Rents jumped 14% year-over-year in December

  • Article available on Redfin
The average monthly rent jumped 14.1 percent to $1,877 in December from a year ago, while median monthly mortgage payments rose 21.6 percent, according to Redfin data. As homebuyers face lower inventory and higher priced, more potential homeowners are forced to rent, which increases demand, and rental prices. The balance between homeownership and rentals will be an important one to monitor as investors play a larger role in the single-family home market. Without a big uplift in homebuilding, homeownership rates could begin to drop.
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Zillow expects 16.4% home value increase in 2022

  • Article available on Zillow
Zillow expects that home values will increase 16.4 percent between December 2021 and December 2022. The company identified a sustained imbalance between supply and demand as one of the reasons for the increase. This provides another data point to consider when evaluating the long-term trend of the nation’s homeownership rate.
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KW snags exec from eXp Realty, who looks to return the favor

  • Article available on HousingWire
Keller Williams Realty has hired eXp Realty president Stacey Onnen as its head of new business operations, while eXp is looking to hire former KW CEO Mark Willis in an executive role. KW has filed a restraining order to prevent Willis from joining a competitor, alleging a potential sharing of trade secrets. KW continues an aggressive development of its business model to become more attractive to teams and agents in the wake of the rise of eXp Realty, fueled by a compelling, low-cost model. The hiring of Onnen away from eXp by KW, marks another step in increasing competition between the long-time leader, where eXp Realty founder Glenn Sanford got his real estate start, and the now formidable up-and-comer.
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