 Ladies and gentlemen, boys and girls, it's about to go down. That is exactly what's happening. And I've been talking about January, being the largest January that we've ever seen, right? And I'm gonna get into some data and show you exactly why I've been talking about that for the last two months, okay? But what I didn't factor in, okay? And I did this on purpose because nobody knows what rates are gonna do. I think we learned that this year when all the mortgage gurus said that we're gonna end the year around five and a half percent, it was gonna hit somewhere in the fives, you know, somewhere in the fall. Yeah, that's what all the mortgage gurus were talking about. So I think we've learned that we can't predict rates as well as we can home prices. But nevertheless, we are where we are. And I took mortgage rates out of the equation. And I said, January is gonna be the biggest January because of what I'm gonna share with you in this video. I wanna break down the actual data here. But starting yesterday, we have this massive rate decline from after the Feds meeting and the senior treasury comes down. And then we have this huge relief in the 30-year fixed mortgage. It dropped 26 basis points yesterday and 20 more basis points today. We haven't seen a drop like that in Lord knows when, right? And right here, we talk about mortgage rates drop under 7% for the first time since August. They're actually down a lot lower than 7%. But again, what I did not figure in to my theory here on January being the biggest January we've ever seen, I did not figure in rates being this low. I figured them staying around seven. So now that we're down here, you know, they can bounce back to seven. They can go lower. We don't know what they're gonna do. But this is massive because when you figure in what I had figured in to having the biggest January we've ever seen in the housing market and then you sprinkle on top of that lower rates. Oh my gosh. This is literally the perfect storm. You know what the perfect storm is? Like a triangle, okay? And it's three things coming together at the same time. When you hear perfect storm, that's three storms, okay? Meeting together and creating this massive storm, okay? Meeting it together at the same time. That's what we have here, ladies and gentlemen. There's three data points. There was two. There was two data points. And we didn't even need the third for it to be the biggest January we've ever seen. But now we actually have a third that makes it the perfect storm. And the third is rates. What are we down to today, Johnny? We are down to 6.62. Can you believe it? Not more than 30, 40 days ago, we were over 8%. Touched eight, went up a little over eight. And now we're down to 6.62, man. That is some relief. So we'll see where it goes here over the next week or two, going into the new year. We'll see. But I think the market is speaking here. And we're gonna see rates, you know, maybe they jump down too fast. Maybe they'll level out a little higher. Maybe they'll remain under seven, okay? But then throughout the rest of 2024, is the Fed talked about that they're gonna have these rate cuts next year. So that's gonna do nothing but put downward pressure on mortgage rates and make the real estate market go crazy. Now, before I get into the data, there's a couple of things here. When rates come down, I've been talking about this for a while, when rates come down, we're gonna see the trade up seller list, but then they're gonna buy. So that creates a net even for active inventory. Then we're gonna see the first time home buyer come in. They're gonna come in by drone. They're just gonna come in and just, you know, crush the market. And they're gonna take a lot of inventory off the market, which is gonna be a net negative for active listings. So what we're gonna see is a lot of transactions because the trade up seller is gonna create a net even, but two transactions. The first time home buyer is gonna create one transaction, one net negative for active listing. So we're gonna see transactions. So we're gonna have three transactions, right? For every one minus one active listing, okay? So we're gonna see this jump in transactions. It's gonna start January 1st. We're gonna see people coming out, looking at homes all over the place. Open houses are gonna have lines around the door. And we're gonna see them go under contract within the first week or two of January and close in the first week or two of early February. And we see that trend every year. I'll show you the data. But what we're gonna see is this happen and it's gonna happen in drones. And we're gonna see transactions rise. We're gonna see active listings drop, go from bad to worse, and it's gonna put upward pressure. I hate to say it, upward pressure on prices. So what's gonna happen, ladies and gentlemen. So here we are at 6.62. And let's just take a look at this with the first time home buyer demand. 50 year birth rates. We see here in 1990, this is 1990 right here. We see this massive spike up in 1990. That's 33 years ago, soon to be 34 years ago. This just happens to be that the average age of a first time home buyer is 33, 34, 35 years old. We've got more of them right now than we know, than we realize because they've been suppressed by the mortgage rates. Well, guess what? Rates are coming down. What are they gonna do? They're gonna come out. They're gonna come out and buy stuff because remember, they can get lower than the average rate. This is 6.62. That's the average rate in the country. You can get lower depending on different products, different mortgage brokers, builders, buy downs. All that stuff is still happening. So it's just, it's gonna be tremendous. And after the first of the year, everybody's gonna say, this is the year we're gonna go buy. If we're gonna buy, better buy now because rates are coming down now. See, everybody's been sitting on the sideline waiting on rates to come down or prices to come down. Well, now rates are coming down. And a lot of these people, wait, wait, wait. And then they wait. And then before you know it, it's too late. People have already jumped. That's why I've been trying to tell people to buy in the fall, in the winter, before January, by now when there's no competition. Why? Because competition raises prices, ladies and gentlemen. It's just simple data. It's just simple statistics. But we've got more first-time home buyers than we've had in 20 years, in 20 years. Okay, first-time home buyers. Everybody knows that we have more trade-up sellers than we've ever had, than we've ever had, ladies and gentlemen. We've had more, we have more trade-up sellers. How many think about it? People, do you know whether you're an agent or not? How many people do you know that want to move but they can't because they're locked into the rate? Yeah, that's pent-up demand. They want to but they can't. When people want to do something but they can't and that group of people continues to grow, they want to but they can't. That's called pent-up demand. Demand that can't happen yet. It's pent-up. It's pent-up for some kind of reason. And when it releases, the longer that it's pent-up, the bigger it gets and when it releases, the bigger the surge is and that's a reason why I said that January's going to be the biggest January we've ever had in terms of pending deals in February for closed deals. Look at this data. I'll make this graph bigger for you. You can see the pending deals. Pending deals just spike up. They spike up. First week of January, right here every year. Look at this. This is just data. Even in the year where interest rates were higher, we still saw the same trend. We're not going to see a different trend this year. We're going to see the same trend but it's going to be much sharper because of all the pent-up demand. Guys, you realize we just had the lowest amount of pending deals a few months ago than we've ever had since they started recording pending deals back in 2001. The lowest, right? That's music to my ears because it tells me that there's so many suppressed buyers. There's so much demand brewing underneath. When I hear transactions are retracting, I'm like, oh, you better watch out. And that's why I've been telling you real estate agents right now for the last month, for the last two months, stack your inventory. It's sitting on the market. Why are we going to list stuff? Because in January, everything's going to sell. Everything's going, it's going, right? Step up right here. Who wants a house? Who wants a house? Everything is going to sell. Stack your inventory now while you got time. Well, it's not that busy. And some of you are busy right now. I say that, and then you guys are going to comment below and say, I ain't got time to do nothing. I'm putting this under contract. I'm showing properties, especially with rates coming down over the last two days. I bet your phone's been ringing. This is your moment, ladies and gentlemen. The worst of the real estate market has passed us. We made it. If you're still in the business, you made it. Congratulations. Now, step up to the plate in 2024. And for all the hard work and hardship that you went through over the last year and a half, let's make it count. Let's put all that knowledge to use. Let's, you know, get our business to a place where we've learned these lessons and gotten used to this slower market where now we understand how to scale, realizing the market's going to rebound. It always 110% of the time resurges, right? And it's going to research very, I've been saying this very violently. Next year could be the year that we actually see 5 million transactions. A lot of people, a lot of the big forecasters are calling for 4.3 million, 4.4 million. They don't know. They don't know. It could be that. It could be more. They don't know. This is the pending deals. It happens first, second week of January every year. Then we see solds, right? It goes down the same way. And then those pending deals start closing, you know, around the early February, but a bang, but a boom. We off to the races again. This January and February is going to be no different, ladies and gentlemen. This is the moment that you have been not, you shouldn't have been waiting for nothing. You should have been grinding your ever-living face off to go out and stack that inventory, all right? I'm going to put a link in the description, right? We've got weekly calls. We're doing a listing challenge every single month. I've given prizes. We're going on vacations. We're doing events, right? We're creating a community. I'm going to put a link in the description. Go there, join for free and get my scripts and everything and be on the call Monday as we continue to break down strategies to go out there and get more listings. Until then, I'll see you guys on the next video. Let's go.