Median sales prices reach new high More housing inventory will eventually tame home price growth in the upcoming months, NAR's chief economist says. Read more from NAR's latest housing report. Full Story: REALTOR® Magazine (6/21)
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Best Practices in Sales & Marketing
Strategies for sending marketing emails to customers Email campaigns are an effective way to increase sales, but strategic timing and compelling content are needed for success. Testing various schedules and content is critical to finding what works best for your audience. However, research shows that Mondays have the highest open rates and Tuesdays have the highest click-through rates, with late evening and early afternoon being the best times to send emails. Saturdays are the worst for open rates, and early mornings have the lowest engagement. Full Story: Forbes (tiered subscription model) (6/18)
Brands explain first-party data strategies at Cannes First-party data creates new growth opportunities if companies can collect and use it efficiently, executives from United Airlines, Molson Coors and Nexxen said at a Cannes Lions International Festival of Creativity panel Adweek presented. United cooperates with other travel brands to create personalized offers using data from its loyalty program, Nexxen helps brands determine the most useful data sets and Molson Coors taps into partnerships with second parties to add to its resources. Full Story: Adweek (6/19)
Why is commercial rooftop solar lagging? Commercial rooftop solar hasn't taken off as quickly as residential applications, with the former adding nearly 2GW worth of projects in 2023, per the Solar Energy Industries Association and Wood Mackenzie. The roofs of such structures hold huge potential for solar, but complicated deal structures, low power prices and technology costs are barriers to growth. Some developers are finding workarounds such as leasing space from facility owners versus requiring them to directly invest in the technology, said Matt Schlindwein of Greek Real Estate. Full Story: The Wall Street Journal (6/18)
President Kevin Sears attended meetings in Chicago, where he addressed the new Board of Directors governance structure. He also provided important updates about NAR membership and the Veteran's Administration's recent decisions around the VA loan product. Watch his message to you.
Fair & Equitable Housing
Comments sought on FHLBs' affordable housing policies The Federal Housing Finance Agency is seeking public feedback on Federal Home Loan Banks' affordable housing programs, which are facing criticism of being overly complicated given the relatively low amount of funding they receive. Some experts are calling for the banks to double the percentage of their earnings they dedicate to affordable housing to 20%. The deadline for comments is Aug. 19. Full Story: American Banker (6/20)
Legislation & Regulation
Initial jobless claims retreat from 10-month high Economic activity in the U.S. appears to be moderating, as evidenced by a slight decline in initial jobless claims to 238,000 and a rise in continuing claims to 1.828 million. Housing starts also fell by 5.5% in May, the lowest since June 2020, amid high mortgage rates. Full Story: Reuters (6/20)
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The National Association of REALTORS® is America's largest trade association, representing more than 1.5 million members involved in all aspects of the residential and commercial real estate industries. REALTOR® Magazine is the official magazine of NAR, bringing expert insight to real estate trends, tools, and business strategies.
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