 Good morning. Good morning. Good morning. I hope you're having an incredible start of your week I hope Monday was incredible for you. Happy Tuesday morning. Ricky Karuth here. I'm reporting on the existing home sales. It's gonna come out any second here and There's a lot of data coming up over the next week or so next Monday I'm gonna report all of these different Reports live to you, but we have new home sales new construction data coming out Monday We have the case Schiller report coming out next Tuesday, and we have pending home sales coming out next Thursday So I'm gonna start bringing you guys these reports live with my commentary etc and Today I want to get into also new construction mortgage data There's some very interesting new construction mortgage data You know at a time when people are saying builders going under and you know builders getting desperate and and everything else It's a while where we're living in here Also JP Morgan came out with an article that I found extremely interesting about affordability and when when homes are gonna get more affordable and I thought this was interesting because the timeline and You know how we actually get there cornering JP Morgan To me was very realistic So I want to dive into that as well And also the National Association of Realtors forecast, you know, we're getting the data this morning from the National Association of Realtors and You know, it's it's just pure data. It's their reports and but let me know in the comments where you are watching from and While we wait on the new homes Report to come out it should be hitting any second now We'll go through the data together here so that we can fully understand kind of what happened Last month with existing home sales kind of where we are in the year compared to last year compared to the the previous month And so on and so forth. Also, let me know like how your business is Let me know in the comments. How how's business for you is your market seems slow right this second? Are you still seeing multiple offers? We're seeing some Markets where the the slight pull I'd say slight It's actually it was actually been a big pullback and mortgage rates It went from 8% to around 7.4 on a national average So you've got people that are quoting in the mid sixes I know a lot of people that locked in low sixes in the last week or so and And We've got some listings out there that are seeing multiple offers, you know because of that moment Where we're seeing these these lower rates compared to where they were and if you look at like, you know mortgage payments You know mortgage payments obviously peaked out when mortgage rates hit about 8% But they're down a good two 300 bucks since then on a national average Let's see just had a listing with multiple offers. Okay. Where are you? What market are you in? Good morning, Kevin. What's good Jordan, what's happening? Yeah, Derek, what's up? What's up? Getting in from all over the place. So Listen, I don't want to miss this report here if We'll see it's nine o'clock on the dot Yeah, I want to be ready to watch this Let me know if you guys can hear the If you can hear Okay, cool, so if you look at data If you look at How this whole thing goes a lot of people are kind of you know really slow right this second guys I'll show you some data in just a second once we get past this report Um, it always picks up right after the first of the year like like you need to be biding your time right now to expand your Influencing your market as in how many people know who you are. You need to be like going all in on your marketing Good Good june's day morning and welcome to another hour of Spock on the street I'm sarah eyes of the trial kentemia and david favor lie for you from post nine of the new york stock exchange Take a look at stocks This morning It's a little bit under pressure nothing extreme dows down about 78 points s and p down a third Of one percent overall though the the trend has been higher as far as what's working inside the market materials and health care Two sectors that are green today everybody else is red Under pressure the most you've gotten groups like energy consumer discretionary and technology That's why the nasdaq is selling off a little bit harder. It's down six tenths of one percent We are 30 minutes here into the trading session. Here are some movers. We're watching Flu of retail names either surging or plunging on the back of their latest earnings and outlooks. We're gonna break Okay, I don't think that we're to the home sales portion of this yet. Um But back to what I was saying here You I'm gonna show you guys the data actually let me write this down to remind myself. I want to show you the data Where Nationally the market picks up Nationally the market picks up January 1 you see an uptick in pending deals Um, and then later on we'll see here we go Month to month to a seasonally adjusted annualized rate of 3.79 million units That's according to the national association of realtor sales down 14.6 percent year over year That's a big miss the street was looking for a smaller drop to 3.9 million And this is the slowest sales pace since august of 2010 That if you may recall was when the home buyer tax credit expired now These are closed sales which represent contracts signed in september Which is when mortgage rates really took off going from right around 7% on the 30 year fix to over 8% in october Falling back this month, of course now supply edged up 1.8 percent from september But still down 5.7 percent from october of last year to just 1.15 million units at the current sales pace That's a 3.6 month supply a little more than half of what is considered a balanced market between buyer and seller Tight supply keeping pressure under prices the median sale price in october 391 $800 of 3.4 percent year over year and that is an all-time high for october Realtors noted that multiple offers are still occurring, especially on starter and mid-price homes While price concessions are rising on the higher end of the market sarah Now we are dynamic diana where we're seeing this decline Steepen in sales and yet prices at a record Yeah, and that's because there is still very strong demand out there and such tight supply where you're not seeing the price gain So much is on the higher end of the market where there's so much more available supply for sale That's where you're seeing the price concessions But when there's really nothing for sale on the lower end and there is still that very strong demand You're seeing multiple offers and bidding wars if you can believe it Yeah, I mean it is hard to believe. Thank you very much dana olec Digesting that existing home sales data guys It's it's one where we have a lot of quotes to talk about from the retailer It's just to figure out what's going on with the consumer because there's a lack of macroeconomic data But not a lack of color and commentary. So here's burlington coat factory You know, I like to pick out these these comments, which actually had a good quarter But on the outlook here's what the ceo says although we believe that over the next five years we can achieve average Okay, I think they're moving into two other things there. Let me Let me remove that Okay, we got it. Here's the home's report. Let's dive into it Let me remove that And then i'm going let me do a few things here So I can show you guys the actual stats on the back end Let's see boom boom and then we will dive right into this Let's see that bam. Let me know what you think about that in the comments right this second All right Yeah Okay So did you guys hear what she said? And let me find the actual report that just hit Okay, so last month sales report. This is september. All right, uh, we were at 3.96 million now This is the last report. Okay. This isn't this report. I'm going back one report to september Uh month over month. We were down two percent year over year down 15 percent So it picked up it slowed down. We were down 14.6 percent this report median sales price was 394 Right and then this month it was 391 so went down a little month over month Now let's dive into Here we go All right So existing home sales receded 4.1 in october so it's from september to october We went down 4.1 percent Okay, is this thing home sales descended 4.1 in october to a seasonally adjusted annual rate of 3.79 million Okay, that is crazy low. Okay, we have four million sales In uh in 2008 they compared this to august The uh that that was compared to august of 2010 Okay, number of transactions existing home sales sales slumped 14.6 percent from one year ago median existing home sale price climbed 3.4 percent From one year ago, uh to 391 $800 the fourth consecutive month of year over year price increases Okay, and she mentioned on the on there that that is an all-time high for october Okay, 391 $1,800 on the median home price in america is an all-time high For the month of october that's huge the inventory of unsold existing homes grew 1.8 from the previous months to 1.15 million at the end of october equivalent of 3.6 months of supply at the current monthly sales pace so with When you talk about months of supply it has a lot to do with not only the amount of inventory that you have but also the pace of Sales and we know that the pace of sales is down 14.6 percent year over year. You could have a place where inventory Um only grew by 1.8 percent, right? Which is really small, but yet the months of supply increased just because Inventory didn't really move a whole lot, but the pace of sales Um, you know increased Okay Set 3.79 million All right year over year sales tumble 14 percent down from the 4.4 million in october 2022 So we know that sales are extremely slow. We we already know that we know that we're at 2008 levels when it comes to existing home sales And i've been telling you guys this is your 2008 You better get excited about the fact that you know how many people back in two that went through 2008 Wishes they could go back in time and go back to 2008 Do you know how many people and i'm one of them and i'm looking at this like Thank you, jesus that we have this moment in time because not only are we down transaction wise and the market is Retracted but prices haven't went down. We just hit an all-time high in october ladies and gentlemen That is that's incredible and it's not like we You know, it's not like it jumped up 10 20 percent. It jumped up 3 percent Okay, I want to dive into jp morgan what their forecast is here for affordability getting back They they have it pinpointed here for how many years it's going to take for the market to get back to where The average american can afford a home. I find it extremely interesting. I also want to talk about redfin data i want to show you a chart that illustrates where The market picks up january 1st this this is the deadest moment that you're going to see in a long long long time Even next winter is not going to be like this at all every fall every winter. We see a downside We see prices soften. We see days in the market go up. We see inventory Pick up every single year even 2021 the year of the boom. We saw this happen But next year is not going to be as bad as this year So I want you to realize that this is the moment right here and after january 1st things are really going to pick up Let's look at um new homes mortgage applications. Okay new home purchase applications up nearly 40 percent in october Let me let me make this larger for you. Okay. This is huge because a lot of people are talking trash About builders, you know, they're saying oh, you know new construction builders are you know getting correct? No mortgage applications for new home purchases during october were up by six percent from september and up 40 percent from one year earlier 40 percent according to new data from the mortgage bankers association uh mortgage basis association estimated new single family home sales were running at a seasonally adjusted rate of 715 000 units in october up 12.8 percent from september Okay from september on an adjusted basis um, they estimated that they there were 55 000 new home sales last month an increase of 7.8 percent from 51 000 new home sales in september All right now obviously that is You know with the home sales that's closed deals. You have to think Okay, it takes about six months to build one of these you're probably six to eight months back in terms of contracts going in place however This is mortgage data people actually putting in mortgage applications to go buy new construction So this is actually telling you like okay the the sales That's an indication of what the market was six to eight months ago But the mortgage applications tells you what the demand is today So I want you to understand the difference there All right, because some people are going to try to Construe the data here And say oh well 55 000 that's where the market was back then But they don't want to share with you the fact that mortgage applications on new construction homes wrote 40 percent year over year And six percent month over month Okay, and this is when rates were still higher of course new construction builders They're offering way lower rates. Uh, we have here In gulf shores the r horton is offering four point nine percent for a primary home If you buy primary home with your horton here in gulf shores You're going to get a four point nine percent right now today And that's probably a little lower because that was a a week or two whenever Whenever we whenever whenever they came out with that So i'm sure it might be even around 4.6 4.8 even 4.5 because we went from eight percent on the national average to right now we're at 7.4 The average loan size for a new home decrease From 397 000 in september to 390 so this is the loan size of new homes This isn't the median sales price the loan for new homes went from 397 to 390 Okay, by product type uh conventional loans composed of 63 percent of the loans fha composed of 26 percent so 26 fha That's people moving into the homes also va loans accounted for around 10 Um, so these are primary home owners that are moving in All right purchase activity for newly constructed homes continued its upward climb in october with purchase applications of 40 compared to a year ago The ninth consecutive monthly annual growth Okay, ninth consecutive monthly annual growth for purchase applications mortgage applications Home builders have been able to temper this high rate environment by offering buyers Right by downs and other incentives. We estimate the pace of home sales increase for the third straight month to a 715 000 unit annual pace the strongest sales month since may 2023 so back in may In the in the spring right coming into the summer That's normally the hottest time of year. We're actually back The strongest sales month since then in terms of new construction the fha share application increase of 26 percent the highest Since the survey began in 2013 Okay As for more first time home buyers turn to the new home market for more options as as some builders start to build more starter homes So you've got uh also first time home buyers That percent has jumped from 26 last year to 32 of of homes that are bought Over the past 12 months have been uh first time home buyers compared to the 12 months prior So it went from 26 to 32 now the average since 1980 has been 36 of home sales are first time home buyers So we're not back to normal. Okay, we're not back to where we were But it went from 26 to 32 and that's going to continue to climb because we've got such a demographic of first time home buyers Now I want to get in again I want to show you the the charts on redfin with the increase of sales activity January 1st Because I think that's what's very exciting for us as real estate agents to get out there and really build our business now Go all in Expand our footprint and really get ready because this is the calm before the storm ladies and gentlemen 2024 is going to be your year. Also. I'm doing uh 2024 goal setting session next friday Okay friday 3 p.m. Central 4 p.m. Eastern text to me 251 312 8844 to make sure you're getting my text messages So you can get the uh, so you can get a link for that So you can be there for that when will the crisis and the u.s. Housing affordability in and how now? I thought this was extremely interesting by j.p. Morgan I read this and I thought man, they really hit the nail on the head in my opinion Let me blow this up and share with you guys This because this really kind of lays it out for me. I'm like, okay We think rising incomes can break the u.s. Housing markets logjam nationally in about three to five years But for large cities, we see an average over the next five years. Here's why so this is interesting. They lay it out Okay, they're not talking about Prices coming down. They're not talking about Interest rates coming down. Okay, they're talking about it's going to be a little bit of interest rates but mostly going to be Time going by and and wages increasing over the next couple of years to catch up with Where housing affordability is the first good news the united states hasn't plunged into our recession Despite more than a year of interest rates. The economy has shown resilience beyond most economic Predictions, but the federal reserve still hasn't beaten down inflation completely And the economy's strength could be more long term than a phase of the economic cycle many market Participants now believe interest rates will stay higher for longer And this is prolonged a set of tough challenges in the housing market that have almost put it into a state of suspended animation Okay, the difficulties Okay, and this lays it out right here for anybody wondering the us home prices are currently at all time highs Right, we just had an all-time high We just got the sales report and we're at all time high for october and less affordability relative to income and mortgage rates Then at the height of 2006 housing bubble, okay less affordable than 2006. Okay, that's when the housing bubble was at its peak That's after prices skyrocketed about 40 percent during the pandemic. Okay Yeah, sales of existing homes are very depressed down to 2008 levels as bad as after the financial global crisis Yes While buyers wait for prices to fall sellers won't list their homes because they don't want to sacrifice the low mortgage rates They locked in before the fastest most aggressive rate hiking cycle in 40 years Prices aren't falling because the market is stuck Okay, demand has been reduced by high mortgage rates But supply is even more restricted because of the severe underbuilding in the 2010s relative to population growth So they're blaming a lot of this on The underbuilding under construction lack of supply they say, you know, there's their studies And I want to dig deeper into this and I'll do a video when I really find the answer People say that we're five to six million units short in the us. Okay I believe that could be true, but I want to know how they came up with that and what what data they're actually looking at How do we how does these issues get resolved and when? Okay, rising incomes can restore affordability given enough time first Here's how we don't think the crisis will be resolved through a crash and a home prices So j.p. Morgan does not believe that this crisis of unaffordability Is going to get resolved by home prices coming down or some kind of crash because a lot of people have them in their head Oh, well the market has to crash home prices have to crash for this thing to straighten itself out No, I've been talking about this for a while Wages will continue to increase that will be a factor Um, I actually learned that from my friend harry had be barry had be um dudes a genius when it comes to this and You know with affordability with wages increasing every year That's going to play a big part and that's getting back to a normal affordability when it comes to housing um Let me do where I were okay The the perhaps natural assumption is that the housing market can only return to a more normal state of affordability and predictable price Appreciation after a drop in home prices effectively clears the market and it begins a new cycle This is certainly not an impossibility Uh, but that would likely require a us recession and a spike in job losses across the economy neither of which Are our base case for the coming years j.p. Morgan does not believe we're going to see a us recession Um of any magnitude or a spike in job losses Nor do we think lower mortgage rates are the solution to Clearing the logjam indeed surveys of home buyers find consistently that Financing rates aren't their main motivators when they make a purchase life stages are People buy homes when they get married or when they need to move as they find employment Have children or retire We see another pathway that doesn't evolve punishing price declines or sizable drop in mortgage rates It hinges on how home affordability housing affordability could be restored by incomes Continuing to rise at a robust rate We think that the path to affordability for starter homes as well as the luxury market Is that wages rise to catch up and meet the higher cost? Okay, right wages increasing to catch up with the higher costs when will uh home be affordable again How long might it take to restore average levels of affordability based on historical ratios of home prices to income and factoring in mortgage rates if incomes were uh to keep growing at the recent pace Okay, they're not even trying to like predict that incomes are going to rise even faster and what they're growing right now Okay, um, so based uh, how long will it take to restore average levels of affordability for homes if incomes were to keep growing at a recent At the recent pace mortgage rates didn't decline and home value stayed at all time highs Okay, so all they're saying is is that That if mortgage rates stay the same home prices stay the same And income continue to grow at the pace it's growing right now How long would it take to get back to home housing affordability? All right their answer 3.5 years So they're talking about 3.5 years. What would that be 23 24 25 26? So mid 27 If everything stayed the same I think the problem there is is that prices will continue to rise But mortgage rates will come down. So hopefully that'll balance out. Uh, and you add in um incomes rising household incomes then we should be in good shape over time It's going to take time our analysts of of the timing is notably sensitive to mortgage rates If the market price markets pricing and mortgage rates were to fall by just 1% Okay, us homes could be affordable again in just two years But that's that's assuming that prices stay the same. I'm sure I'm sure that they're saying if prices stay the same If mortgage rates come down a percent and incomes continue to grow like they're growing now Then we've got two years. I think even if mortgage rates come down prices will adjust for that upward We're still going to be looking at three to five years when it comes to housing affordability based on You know incomes rising based on the current trends housing affordability could report restored in three to five years So this chart here shows this dotted line here in the middle is the 1991 to 2006 average Okay, and that's kind of where you want to be you want to be around this dotted line here Okay, and this big dark blue line that is the housing affordability index And you see we're at an all-time low down here like this is as bad as this been here's where we're in 2006 And here's where we are now and they think over time getting to 2027 we're going to slowly come back to here And you kind of see their prediction that it's not going to get any worse and I agree with that Right. I it can't get any worse because people just can't afford they're just going to just stop They're just going to stay where there are they're going to live with their mom They're going to you know get roommates whatever and that entire situation is just going to continue Because you can't go any lower. I'm sure you guys would all agree that you can't get any lower I also agree with jp morgan that Home prices aren't going to you know deep that the answer isn't home prices crash I think the answer is time time goes by and affordability gets better through rising incomes household income And mortgage rates slowly coming down. I also think prices will continue to increase Let's see and then home prices vary by metro areas. So they get into some locality stuff Right here. We'll see we see and and this is kind of a mixed bag, right? And this is how how the market always is You've got the markets that are You know doing you know better than others and that gets you to the national average redfin put out some data um Matter of fact, let me find that Let's see. Let me find that really quickly for you Let's see. Let me find that. I want to share that with you really quickly And then I want to move on to some more data redfin redfin redfin redfin Okay, let's see. Okay, so So that this was the highest share of home price drops. No, no, no, that's not what I wanted Let's see. Okay. Here. Here was the home. So let me blow this up a little bit Where home sale prices decrease the most north port florida 8 austin texas 7 Honolulu 4 new orleans 4 san antonio 3 Fort worth texas 3 tampa bay tampa florida 7 jacksonville 1 Cape coral florida 1 buzziotti whole 1 percent this these are where home sales Uh home sale prices. Okay. We're home sale prices decreased the most Okay, so in a year where where mortgage rates went way up and you've got everybody on youtube saying the market's gonna crash And burn isn't it crazy guys by the way? Isn't it insane the amount of? Hate the market has gotten this year like prices are gonna just crash and burn And you've got all these fear mongers. You got all these people on youtube Doing videos like the market's gonna crash tomorrow the market's gonna crash tomorrow. It's it's crazy It's insane But here we are these are the worst places 8 north port florida 7 austin these are the worst places Now when you talk about national average, listen, there's always going to be houses every single year There's going to be markets where prices are down for the year And there's going to be places where where prices are up for the year every single year And that's how you come up with the national average and here we see Where prices increased the most Lake county illinois 16 percent newark new jersey 15 percent camden new jersey 14 heart for kinetic at 13 percent new haven kinetic at 13 anaheim 12 san jose 11 Knoxville 11 west palm beach 11 sincenady ohio 10 percent So you've got uh, you know markets that are down markets that are up. Okay You know, but back to this article here jp morgan Uh, just want to kind of you know summarize this up. I thought this was very interesting It's what i've been thinking about the entire time this has been happened over the last last two years. Let's just say that This whole thing is going to get solved by household incomes increasing the market leveling out a bit still increasing But slightly not seeing the double digit increases on prices and mortgage rates coming down a tad That's how all this is going to get solved. So just remember guys time heals all wounds And that's going to be true with the market as well. We're going to be just fine I want to dive over to the redfin data here Um, because I want to show you guys just in case you haven't seen I want you to understand The way that the market behaves every single year here So let's first look at home sold. All right every single year you see this decrease. You see this decrease All right, it's coming down Okay, and it always comes down to about the end of january and then guess what it starts spiking up It starts spiking up and it always peaks out about mid-year and then it kind of dwindles down even 2021 Right the year of the boom guys It did the same thing it peaked out mid-year and it dwindled down even in the year of the boom guys Okay, you know, well, it didn't happen in miami. It didn't happen in new york. Yeah, I did I can show you I could go in here and show you the data real data. You're just going by feel and i'm going by numbers But this is home sale. So we have to realize about home sales is these are closed deals So right here closed deals started happening, right towards the first of february the first couple weeks of february, which means what? Which means that the homes that closed went pending 30 days or so before that, which is what? january 1st January 1st guys, this is my target right here. Let's look at pending So you see pending you do have a slight decrease there right at the beginning, but then it picks up really soon It picks up like the first week or so of january Okay, again, let's look at home sales You see it's down and it and it doesn't spike back up You know till like late january early february Same thing with pending deals it kind of starts But you see it picks up about 30 days before the home sale starts spiking home sale spiking Pending deals spiking the pending deals are the ones that are closing At the end of february. You see we start out and it's kind of slow right then Okay, this is national of course you can dig into your your local data But this is what i'm trying to tell you guys All right, this is what i want you to get out of this And then we're gonna move on to some more forecasting and stuff Sales are gonna pick up Incredibly After the first of the year don't let this market fool you if this is your first time around with the market cycle and Things getting really slow. Don't worry about it. You need to go all in I mean all in talking to as many people as you can go all into your marketing go all into your phone calls Go all in your weekly email go all in on everything you do the handwritten notes everything I want you to go all in on everything to just try to talk to as many people as you can if you're sitting around In the office you're in at a computer and you're not doing anything to try to communicate with people Uh at scale to try to build your business because two things happen when that when you do that You build your database which is basically loading up for after the first of the year when the market rebounds You're going to be crushing it the bigger you can get right now with your database The second thing that's going to happen is you're going to squeeze a couple of deals out Just as a by-product of trying to build your database. You're going to squeeze a couple of deals out Uh during the month of you know november december you're going to squeeze a couple deals out That's going to kind of keep you afloat But if you sit around saying, oh the market's slow. I'm not going to do anything. What's the worry? Well, what's the what does it matter? Nothing's going to happen? The market's slow Um, you know blah blah blah Then you ain't going to do nothing. You're not going to your business isn't going to double next year This is the moment right here that you double your business your business isn't going to double next year nor Are you going to do any deals today? Because you're just saying oh, well, nobody's doing anything. So why should I do anything? Okay? That's that's how low producers think. Okay. Are you a low producer? Because that's how low producers think Now let's move over. Let's see what else I got. We talked about new home, uh Applications, you know builders are suffering. Okay We talked about j.p. Morgan and when affordability is going to get better in the country and I stand by this I you know like forecasting things and trying to predict things is what the grain of salt I mean, none of this matters right what's going to happen is going to happen It's normally going to be way different than what anybody predicts that has been proven time after time after time after time But when you think about the timeline of this and they're not giving you the Quantum leap here. Oh, it's going to be better next year. They're saying three to five years here This is to me the most realistic forecast that I've seen concerning this and Back in 2008 when I got back in real estate from going homeless and everything and I you know ended up crushing it It was because I looked at the market and I realized this is crazy Where the market was going to be in the next three years. It's funny. They say three and a half years because as an agent coming back learning what I learned I uh, I looked at the market over a three-year period and I said, okay foreclosures are just rampant There's so many of them. I don't want to be a foreclosure agent because I'm basically The bank's bitch I'm going to go out here and represent people that buy these foreclosures and Create lifelong relationship with those clients and then in three years when market comes back prices go up They're going to sell that property for a profit buy something else. There's three deals from that person We're firming three or four people. There's three or four more deals And then those people will buy and sell with me for the rest of my career and that's exactly what happens So I looked at it over a three to five year outcome and I said here's where the market's going to be Let me put myself in position to crush it then and by 2014. I was selling 100 properties a year This is your 2008 you can visualize where this is going to be over the next three years Right. It's we're going to get back to affordability Household incomes are going to increase prices are going to stay pretty level. Okay mortgage rates are going to ease down I don't think we're going to see this big drop where it just makes the market explode But I think we will see some markets that start to see some multiple offers We're already seeing multiple offers come back and some markets just because of the little half a percent drop On mortgage rates. This is a very very good This is a very good article all right NAR the uh laurence yoon You know it's 18 home sales by year over year. All right. He's optimistic He's predicting six to seven percent mortgage rates by spring now. It's hard to predict mortgage rates I mean it is hard a lot of mortgage people said that by the end of this year mortgage rates would be around five percent All of all the big mortgage people even barry habib said mortgage rates We're going to get down in the fives by the end of the year We ain't even close. They didn't even touch five nowhere near five now The one thing that all these people were correct on Where that transactions would be down and home prices would be up and they definitely wouldn't crash That's one thing that they were correct on so it can't be right on everything but you know All right, so we talked about this and how I need you to be a hundred percent pre Paired to go out here and absolutely Crush it and the only way to do that is to Build your day go to the moon with your database right this second Okay, because here's pending it always happens every year every single year guys This is going to shoot up and this year is going to be crazier than ever and then home sales It takes some time It's a delayed reaction because these are the closed sales from the pending deals that start closing Ching Ching Ching Ching Ching Ching It's going to happen every single year. You better be on your grind right now ladies and gentlemen not thinking about Poor me in the market. You need to be thanking your lucky stars that the market is the way it is right this second All right. I'm doing my 2024 business planning session. That's going to be live Just text to me at this number if you want the link. It's 2513128844 2513128844 let me know what you think in the comments. I love you guys so much I'm going to be live next week. Uh, let me tell you what I want to be live doing I'm going to be here giving you the new home sales report. That's monday K. Schiller's coming out with their monthly report Tuesday and we have pending home sales next thursday Those will all be live reports right here with me ricky kerruth on youtube and i'll see you guys on the next video Let's get it