Tracy Tang Team Industry and Market Update!

• The national average of days on the market for October 2021 hovered around 18 days, down from 21 days year over year. (NAR)
• 82% of homes put on the market in October were on the market for less than a month (NAR)
• Homebuilder sentiment for single-family homes rose to 83 in October. (NAHB/Wells Fargo Housing Market Index)
• The average interest rate in October for a 30 year fixed conventional mortgage was 3.07 percent. (Freddie Mac)

 **Note: Stats reflect October 2021 market-wide data for coops, condos and single family homes in Manhattan pulled from the Real Estate Board of New York, REBNY’s, RLS

**Note: Stats reflect October 2021 market-wide data for SFH in Miami pulled from Miami Realtors

Agents from around the country recently gathered in Austin at our annual REtreat to connect with peers, expand their referral networks, and hear updates about the new tools and services Compass is launching. 

• Compass has expanded to serve agents in nearly half the country and has grown its national market share by over 30%. 

• In just 9 years, Compass went from not existing to being a public company that is the #1 independent brokerage firm in the country. 

• In Q3 2021, Compass agents closed 3.5 times the sales volume of agents from other brokerages.

• Compass recently launched Find an Agent making it even easier to find a referral agent through Compass' cross-country network with the click of a button.

• Next year, Compass is launching Client Dashboard a simple, interactive dashboard that will help agents track and manage everything to buy and sell a home, in one easy-to-navigate destination.

• Compass Introduces New Ranch + Land Division

• Browse Compass’ most prestigious properties by lifestyle or region.

• Explore The Luxury Division's specialized periodical, Curated Magazine.

• Stay in the know with insights and articles on the luxury markets across the country. 

• CNBC | Thousands could soon lose – or sell – their homes as Covid mortgage bailouts expire

• The Wall Street Journal | U.S. Home Sales on Track for Biggest Year in 15 Years

• National Association of Realtors | Weekly Housing Market 

  Monitor

• CoreLogic | 

  New Home Outlook: Sales Expected to Rise in 2021