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Byron Lazine and Nicole White are two agents in Connecticut who give us their thoughts on the week’s news every Friday in “The Real Word,” a weekly video column on Inman. This week, Lazine and White are talking about the EoY Case-Schiller update, the Twitter account real estate agents should be following, the marketing trends that won’t make it into 2023 and the pitfalls of quiet quitting.
Topic No. 1: The December 2022 Case-Schiller update
If you’re not already following Lance Lambert on Twitter, you should be, said Lazine. According to Lambert, and according to the numbers that just came out from Case-Schiller, this year is the first time we’ve seen home prices continue to fall over the course of four months since the 2007, 2008 and 2009 markets. Lazine believes we’ll start to see a bounceback in 2023 based on the continuing low inventory.
Year-over-year markets are still up. Although we’re still seeing price corrections, they’re rare. In some markets, continuing corrections may wipe out much of the gain in value homeowners experienced over the prior 12 months.
White still feels optimistic and says she’s never really worried until we’re up or down by fives. While it’s something to keep an eye on, she doesn’t see a need for particular concerns until you start seeing inventory sitting on the market.
Lazine’s optimism goes up when the comparisons are to 2007 to 2009, since he sees no comparison to those market conditions. He does think agents are going to feel pain in the short term, however, especially due to the lack of deals in November and December 2022.
Topic No. 2: Marketing trends that won’t make it into 2023
According to a recent study by Hubspot, these marketing trends probably won’t make it into 2023:
- Celebrity endorsements
- Curated Instagram feeds
- Audio-only spaces
- Long-form marketing videos
- Marketing in the metaverse
Left, middle, right
As some workers are embracing quiet quitting, anyone who’s hiring a W-2 employee to work remotely should be careful. Consider freelancers and virtual assistants instead for a lower level of commitment and risk. As the job market tightens in 2023, it will be harder for people to quiet quit, said Lazine.