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“The Ultimate Engine for Video Making”

Source: CapCut

By now we don’t have to explain what ChatGPT is, nor do we have to emphasize the importance of video. We don’t recommend this as a substitute if you’re already showing your face in your social content.

But for those who might be a little “camera shy” or someone who needs to post more frequently, this might be worth looking into to step up your content game.

TikTok, Instagram Reels, YouTube Shorts, etc., are far too important to be posting on to ignore.

You can read CapCut’s full guide on how to leverage this for your content game here.

New Construction Homes Gain Popularity

Source; Pixabay

Newly built homes have been occupying a larger share of the for-sale housing inventory. This can be attributed to two factors:

• an increase in homebuilding

• a decrease in the number of existing homeowners putting their houses up for sale

Those who are still in the market are increasingly opting for new construction homes. Builders are offering concessions, such as mortgage rate buydowns, to attract buyers and reduce their inventory. As a result, purchases of new single-family homes have seen a significant increase of 12.3% last month, marking the fastest pace since early 2022.

How are you marketing yourself to new construction buyers?

Impact of High Mortgage Rates on Affordability

Buyers' budgets continue to be impacted by rising home prices and persistently high mortgage rates. As a result, affordability has declined, with roughly 7% of U.S. homes for sale experiencing a price drop during the four weeks ending October 22. This is the highest share on record, indicating that sellers are adjusting prices to attract buyers in a market with declining affordability.

Temporary Dip in Mortgage Rates

There has been a slight decrease in mortgage rates recently. The daily average 30-year rate dipped to 7.69%, its lowest level in about three weeks.

Two economic events have contributed to this decrease in mortgage rates:

• The U.S. treasury announced that it will issue less long-term debt than expected. The treasury's decision to issue less long-term debt than anticipated, along with more short-term debt, has reversed the trend of increasing long-term rates and mortgage rates over the past few months.

• The Federal Reserve held interest rates steady at its November 1 meeting. While rates remain at a 22-year high, the decision not to hike them further has played a role in bond yields falling. This has put downward pressure on mortgage rates. Additionally, the Fed's indication that rates will stay elevated into 2024 to combat inflation and cool the economy has further influenced the decrease in mortgage rates.

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Waterfront, Watersides, Waterunder

Source; Zillow

This Tyler, TX home can be yours for a cool $3.75M. View the full listing here.

How would you write this listing description? 😂

TL;DR (Too Long;Didn’t Read)

Leverage ChatGPT x Capcut for enhanced video content. The housing market is experiencing a shift towards new construction homes as buyers are attracted by the concessions offered by builders (make sure you’re marketing yourself to capture these buyers). High mortgage rates continue to impact affordability, leading to price adjustments in the market. The recent decrease in mortgage rates, influenced by the U.S. treasury's announcement and the Federal Reserve's decision, presents an opportunity for homebuyers to lock in a lower rate.

Have a great weekend - we’ll see you next Saturday.

Cheers 🍻

-Market Minds Team

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