New: 🧠 Market Minds Issue #026

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Market Minds
April 27, 2024

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We appreciate each and every one of you for taking the time to read Market Minds. Buckle up and enjoy the free value - and you won’t want to miss the cinder block house.

Last Chance to Invest in ZenniHome

ZenniHome is pioneering FASST housing (Factory Built, Advanced Tech, Sustainable, Stackable, Transportable) with production capacity filled well into 2026.

Recently $74M in grants were announced by Navajo Nation for ZenniHome factory expansion and home purchases.

To meet the production demands of 80,000 soft orders and 1,000+ B2B units in the firm pipeline, Dr. Michael Schmitt has joined as COO (previously Tesla, and Bosch) to lead building factory 2.0 with targeted capacity of 20+ homes per day.

CoStar’s Strategic Acquisition

Source: AJ Canaria Creative Services

CoStar, the parent company of the popular consumer home search portal Homes.com, announced its acquisition of Matterport for a staggering $2.1 billion.

This acquisition, as reported by Inman, marks a significant development in the real estate technology landscape.

While this move may not have triggered an immediate seismic reaction similar to Zillow's acquisition of ShowingTime, the potential long-term implications are profound.

CoStar's integration of Matterport's technology could revolutionize how consumers interact with real estate listings, offering a more immersive and informative experience.

And even though Homes.com has doubled Realtor.com’s monthly unique visitors, CoStar isn’t stopping anytime soon.

Housing Affordability Survey Insights

Source: Redfin

According to the survey, conducted by Qualtrics in February 2024, a surprising 38% of homeowners feel they could not afford to buy their own homes if they were to purchase them now. This sentiment is even more pronounced among certain demographic groups, highlighting a broad and deepening divide in housing affordability.

Key Findings:

  • Long-term homeowners feel the pinch: 59% of respondents who have lived in their homes for over a decade, and 21% who have been in their homes for at least five years, reported that they would not be able to afford their current homes if they were to buy them today.

Elijah de la Campa, a senior economist at Redfin, encapsulates the dilemma faced by many homeowners and potential buyers. He explains:

"Rising home prices are a double-edged sword. On the one hand, Americans who already own homes benefit from rising values and they can consider themselves lucky they broke into the housing market while they could still afford it. On the other hand, price appreciation makes the prospect of buying a new home daunting or even impossible for many people who want to move."

Try This Font Trick For a Higher CTR

Source: BAM

Each style was given an equal budget of $50, and the ads were set with an "Awareness" objective to ensure the clicks were organic.

The tool used to modify the fonts was LingoJam.

The Results

  • Standard Font: 28 clicks.

  • Italicized Bold Font: 24 clicks.

  • Shadow Font: 36 clicks

So regardless of what ads you’re running for your business, consider duplicating the ad and tweaking the font to see how it affects your CTR.

Dominate Your Market with the Postcard Pack

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The Cinder Block House

Source: Zillow

This Ruskin, FL home doesn’t exactly give “cozy” vibes, but can be yours for only $749,900.

Could you see yourself living here? 😂 

TL;DR (Too Long; Didn’t Read)

CoStar, the parent company of Homes.com, acquired Matterport for $2.1 billion, a move that signals significant changes in real estate technology. While not as immediately impactful as Zillow's acquisition of ShowingTime, the integration of Matterport's technology could transform how consumers engage with real estate listings. A survey by Redfin reveals that 38% of homeowners feel they couldn't afford to buy their homes now, with long-term homeowners particularly affected. Additionally, experimenting with different fonts in ads, as shown in a study by BAM, can affect click-through rates, with shadow font resulting in the highest engagement.

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

Cheers 🍻

-Market Minds Team