Hey Friends,
I have 3 fun facts to share with you today, which happens to be my birthday! I hope you have a great weekend!
Blessings,
Andrew
Fun Fact 1:
The number of full-time real estate agents and brokers in the US has dropped to 440,000 in 2023, the least since 2014. The real estate agents count fell 72,000 year-over-year, or 14%, marking the largest drop since 2008. The number of members in the National Association of Realtors is now down 100,000 since 2022, to ~1.5 million. Agents are dropping quickly.
My response: I want to say a huge Thank You to all of YOU who have trusted me with your real estate business in Colorado as well as other states. I am not going anywhere!
Source: The Kobeissi Letter
Fun Fact 2:
Residential real estate has gotten so expensive that not even investors can afford to buy. The average mortgage rate of 6.1% is now well above the 4.4% average cap rate on a rental property, according to Re:Venture. As a result, investor purchases of single family homes are down by nearly 50% since the pandemic high. For over a decade, investment property returns were above mortgage rates in the 2010s.
Source: Re:Venture Consulting
Fun Fact 3:
Almost half of Gen Z wishes social media platforms like X and TikTok didn’t exist.
Source: Harris Poll/Zach Rausch via Kyla Scanlon
Quote I’m pondering:
“We cannot solve problems with the kind of thinking we employed when we came up with them.” —Albert Einstein
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Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, an offer to buy or sell any security, or to buy or sell real estate property. Read our full disclosures HERE.
