Zillow’s Chief Economics Officer explains how to talk to buyers and sellers about the market
Today’s RealTrending is hosted by Skylar Olsen (chief economist at Zillow). Skylar Olsen shares her predictions for the housing markets and provides dialogue real estate agents can use to talk with buyers and sellers in this fast-paced podcast.
Skylar can help you work with sellers who aren’t sure how to time the market or buyers who are on the fence.
Here’s a preview of Skylar’s interview today. This transcript has been lightly edited to improve clarity and length.
Tracey Velt – Let’s discuss your thoughts about the overall economy, and where mortgage rates might go.
Skylar Olsen: Mortgage rates can be determined in a financial marketplace. They are about as predictable as stocks. They are very volatile right now, which can be very stressful. Recent trends in mortgage rates are beginning to fall. It’s funny that we are actually in a macro environment of good news and bad news. It’s a little strange. We are starting to see wage growth slow down, which is great news for inflation. We have signals that other prices will fall.
Financial markets begin to realize that the Fed won’t have to be so harsh with us and will continue to increase interest rates. With economic news like this, you can see mortgage rates dropping. In other words, we are starting to believe that a soft landing is more likely.
RealTrending is a podcast that features the best minds in real-estate. Twice a month, industry leaders, top agents, team leaders and brokerage leaders share their success stories, trends and lessons learned in this ever-changing field. Tracey Velt hosts and Elissa branch produces.