285: Key Real Estate Trends from the 2024 NAR Report

Hustle Humbly Podcast

Alissa Jenkins & Katy Caldwell

Entrepreneurship, Realestatepodcast, Realestate, Realtoreducation, Realtor, Business

4.9 • 809 Ratings

🗓️ 20 January 2025

⏱️ 81 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It’s that time again—our annual deep dive into the National Association of Realtors’ Profile of Home Buyers and Sellers! This is your chance to learn what’s really going on in the real estate market and how it impacts your business.

We’re covering:

Why the typical first-time homebuyer is now 38 years old.
How buyers are adjusting to higher interest rates and home prices.
What’s driving sellers to move (and where they’re going).
Key takeaways for Realtors about repeat and referral business.
FSBO stats that will make you feel great about your job security.

Plus, we take a hard look at the numbers behind agent income, transactions, and tenure in the business. Spoiler alert: If you’re feeling like the market’s been tough, you’re not alone!

This episode is packed with actionable insights and the data you need to prepare for 2025. Don’t miss it!

Key Quotes/Takeaways

“The typical first-time buyer is now 38 years old, and first-time buyers make up the smallest share of the market since 1981.”
“90% of sellers used a real estate agent this year, and FSBO sales hit an all-time low at just 6%.”
“The median income for Realtors is $55,800, with 41% of agents still relying on a second source of income.”
“Buyers are using the internet 100% of the time in their home search. Professional photos and a mobile-friendly website are non-negotiable.”
“Only 21% of repeat buyers used the same agent they worked with before. If you’re not staying in touch with your clients, they’re moving on.”

Products, People & Previous Episodes Mentioned

Profile of Home Buyers and Sellers Report – Available on NAR’s website: nar.realtor/research-and-statistics
Forever Home Episode – Learn why no home is truly forever: hustlehumblypodcast.com/forever-home
Agent Systems Course – Stay organized and grow your business: hustlehumblypodcast.com/agent-systems

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Transcript

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0:00.0	So like a quarter of buyers are like, I just had to.
0:05.0	I didn't want to, but I had to.
0:08.0	Understanding and performing the paperwork 10% were the most difficult steps for the for sale by owner.
0:15.0	You don't say.
0:16.0	You don't say.
0:18.0	When people ask you how the market is, you could say interesting stats.
0:23.0	Like, did you know that agent listed homes are at an all-time high of 90%?
0:28.3	Only 6% of houses sell for sale by owner.
0:31.7	Can you imagine saying that to someone?
0:33.5	What a hopeful stat.
0:36.1	Hi, y'all.
0:37.0	Welcome to Hustle Humbly.
0:38.1	It's Alyssa and Katie, and we are two top-producing realtors in the Baton Rouge market.
0:42.1	We work for two different companies where we should be competitors, but we have chosen
0:45.5	community over competition.
0:47.1	The goal of our podcast is to encourage you to find your own way in business.
0:50.8	So stop comparing yourself and start embracing your strengths.
0:54.6	Hi, Alyssa. Hey, Katie. Welcome to our listener's favorite episode of the year,
0:59.1	the profile of home buyers and sellers. Woohoo. 2024 edition. You guys love some data.
1:07.7	This is our third or fourth time. Definitely third, maybe fourth. Yeah, to do this report.
1:14.4	It is shockingly well received. And the data is very interesting, especially coming off of some like
1:20.3	unstable years where it's hard to predict things. Now that we have made it to this year of
	...

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