Taking a step away from the drama, speculation, and panic caused by the NAR Commission Lawsuit Settlement, let's reset everyone's mindset. Today, we're talking about 8 reasons to be optimistic.  
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We'll return to upgrading your buyer skills this week; don't worry!  The fact is that even after upgrading your best buyer practices, embracing, learning, and using your Buyer Presentation if you don't have a powerful mindset, you'll be unlikely to use your new skills at the level necessary to thrive in the new real estate world. 
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Let's dive into 8 reasons to look forward to a fantastic year ahead.
1.  Inventory is back and rising steadily! This is the most exciting news this month—it's what we've all been waiting for. NAR head economist Lawrence Yun said, "Additional housing supply is helping to satisfy market demand. Housing demand has steadily risen due to population and job growth, though prevailing mortgage rates and wider inventory choices will determine the actual timing of purchases."
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*Rising demand and lower rates should fuel a better year for sales!
For the week ending March 15th, there were 507,000 single-family homes on the market. That's up 1.3% from the previous week, 24% year over year, and an amazing 105% from two years ago. That's from Altos Research, which tracks every sale in the country every week.  
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Inventory is growing nationwide and has been consistently increasing each week.  These numbers don't even include all the new construction!  That's our next point...
2.  Builders are officially bullish. The National Association of Homebuilders has published its “builder’s confidence” index for 35 years. In March 2024, the index rose 3 points to 51. Anything greater than 50 is considered bullish. 
What goes into the index? It has three components: current conditions, future conditions, and buyer traffic. They report that all three components are coming in high. For comparison, their builder confidence index was 44 this time last year. 
In January, housing starts rebounded 11% Month over Month to 1.5 million units. February was up 6% year over year. Completions jumped to 1.7 million units, up 20% Month over Month and 10% Year over Year. That’s the fastest pace of completion seen since January 2007! While some of those starts are multifamily, the majority are single-family homes.  
Homework: Take a tour of all the available new construction in the zip codes you typically work in, plus a 10-mile radius.  Refer to our podcasts about new construction.  More than 30% of the available inventory is new construction.
3.  Rates WILL come down this year.  Rates are currently just under 7%, which is already an improvement from the beginning of the year.  We see that in mortgage applications being up.