Housing News Podcast: Century 21’s Mike Miedler explains what it takes to thrive in an “experience economy”
The Housing News Podcast is a weekly wrap of the top news stories by HousingWire CEO Clayton Collins.
Each week, HousingWire interviews financial services experts who can help make sense of the latest headlines, sponsored by our partners at Arch MI.
This week, Michael Miedler, the president and CEO of Century 21, kicks off season two of the Housing News Podcast. Miedler discusses his accession within the real estate industry, as well as what it takes for agents to thrive in an “experience economy.” Additionally, Miedler touches base on some of housing’s hottest topics ranging from Millennial homebuyers to inventory and affordability woes.
Here’s more detail on the topics of discussion this week:
What so many in the housing industry have waited years for appears to finally be happening: Millennials are buying homes. Back in September of last year, after existing home sales fell to a three-year low, it appeared that many younger would-be buyers were turning to renting instead of buying. But things look much different just a few months later.
A new report from Zillow shows that for-sale inventory continued to fall in September after a mild recovery earlier this year. According to the Zillow report, there were 102,112 fewer homes on the market in the U.S. in September than there was last year during the same month, a 6.4% drop.
The inventory of homes for sale in the U.S. continued to decline in September, signaling the market may be heading toward an overall shortage, according to a Realtor.com report. During the month, the national inventory of homes for sale fell 2.5% from the previous year, and at a much faster rate of decline compared to August’s 1.8% decrease.
And here are links to the topics discussed:
1) Homeownership rate rises to four-year high as Millennials are finally buying homes https://www.housingwire.com/articles/48317-homeownership-rate-rises-to-four-year-high-as-millennials-are-finally-buying-homes/
2) The hidden housing problem: There just aren’t enough houses on the market https://www.housingwire.com/articles/the-hidden-housing-problem-there-just-arent-enough-houses-on-the-market/
3) Is the housing market heading toward an inventory downturn? https://www.housingwire.com/articles/is-the-housing-market-heading-toward-an-inventory-downturn/