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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. While homebuyers and home sellers still see headlines telling them its a sellers market and national home prices are reaching all-time highs, a deeper look reveals that several regional housing markets have shifted, giving homebuyers some power. During the Pandemic Housing Boom, from summer 2020 to spring 2022, the number of active homes for sale in most housing markets plummeted as homebuyer demand quickly absorbed almost everything that came up for sale. Fast-forward to the current housing market, and the places where active inventory has rebounded to 2019 levels (due to strained affordability suppressing buyer demand) are now the very places where homebuyers hold the most power. At the end of April 2025, national active housing inventory for sale was still 16% below April 2019 levels. However, more and more regional markets are surpassing that threshold. This list is growing. At the end of January 2025, 41 of these 200 major markets were back above pre-pandemic 2019 inventory levels. At the end of February 2025, 44 of these 200 major markets were back above pre-pandemic 2019 inventory levels. At the end of March 2025, 58 of these 200 major markets were back above pre-pandemic 2019 inventory levels. Now, 69 of the 200 markets are above pre-pandemic 2019 inventory levels and ResiClub expects that count will continue to rise this year. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); Many of the softest housing markets, where homebuyers have gained leverage, are located in Gulf Coast and Mountain West regions. These areas were among the nations top pandemic boomtowns, having experienced significant home price growth during the pandemic housing boom, which stretched housing fundamentals far beyond local income levels. When pandemic-fueled migration slowed and mortgage rates spiked, markets like Cape Coral, Florida, and San Antonio, Texas, faced challenges as they had to rely on local incomes to sustain frothy home prices. The housing market softening in these areas was further accelerated by the abundance of new home supply in the pipeline across the Sun Belt. Builders in these regions are often willing to reduce prices or make other affordability adjustments to maintain sales. These adjustments in the new construction market also create a cooling effect on the resale market, as some buyers who might have opted for an existing home shift their focus to new homes where deals are still available. In contrast, many Northeast and Midwest markets were less reliant on pandemic migration and have less new home construction in progress. With lower exposure to that demand shock, active inventory in these Midwest and Northeast regions has remained relatively tight, keeping the advantage in the hands of home sellers. !function(){"use strict";window.addEventListener("message",(function(a){if(void 0!==a.data["datawrapper-height"]){var e=document.querySelectorAll("iframe");for(var t in a.data["datawrapper-height"])for(var r,i=0;r=e[i];i++)if(r.contentWindow===a.source){var d=a.data["datawrapper-height"][t]+"px";r.style.height=d}}}))}(); Generally speaking, housing markets where inventory (i.e., active listings) has returned to pre-pandemic levels have experienced weaker home price growth (or outright declines) over the past 30 months. Conversely, housing markets where inventory remains far below pre-pandemic levels have, generally speaking, experienced stronger home price growth over the past 30 months.
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E-Commerce
How many times have you been asked by someone at work whether you know about a particular project, are familiar with a specific concept, or know a person? Chances are, you have answered yes to that question a few times when you did not, in fact, know what they were talking about. There are several reasons why people will say the know things they dont. For one thing, there is a desire in conversations to be cooperative with your partner. When they ask a question, the default cooperative answer is usually yes, so you often go with that default. On top of that, it you may feel deficient if youre lacking knowledge or awareness that someone else has. Despite these temptations to overstate what you know, there are good reasons to admit when you lack the information you have been asked about. Opportunities for mentorship Admitting that there is something (or someone) you dont know creates a vulnerability. You have demonstrated a potential weakness to someone else. However, it also opens up a chance for someone to teach you something you dont know. Most colleagues would like to be helpful, and when they know you have a gap in your knowledge they might be willing to teach you. This willingness to admit ignorance to others also enables you to be more honest with yourself. You can’t begin to fill gaps in your knowledge until you do a reasonable inventory of what you do and dont know. This honest appraisal opens you up to the lessons that others may have for you. It may also help you to recognize gaps in your understanding of projects going on at work and people you need to know. All of this is likely to make you more effective in the long run. Building trust Often, you dont want to appear to have a gap in your knowledge, because you believe that will decrease your value in the eyes of others. But merely saying you know something or someone doesn’t have much of an impact on how other people view you. It’s your ability to use knowledge or to engage your social network that provides value. In fact, your willingness to admit what you dont know often increases peoples trust in you. When people know that you are willing to be clear when you dont have knowledge or connections, then they are better able to rely on you for the knowledge you claim. In general, owning your limitations gives other people more confidence in your abilities and your work. Setting an example A true learning organization is one in which people strive to improve their knowledge and skills. When you admit what you dont know, you also open up the opportunity to learn something. It’s a great example for the people around you when you hear about something new, acknowledge that it is new to you, and then go out and find out more. This cycle of admitting a lack of knowledge and getting educated is particularly important for senior leaders in an organization to go through. People across an organization are looking to leaders to set the tone for the way the organization functions. When senior leaders portray themselves as knowing everything, then they are treating knowledge and skill gaps as a weakness rather than an opportunity. That attitude will trickle down in ways that limit the learning of all team members. Bonus: Flip the default on questions If you really want to know what other people know, you should ask your questions differently. Rather than saying, Do you know . . .? which has the cooperative answer yes, start your questions with things like I find a lot of people are confused by, . . . or Something that took me a long time to understand is . . . These phrases create the presumption that the cooperative answer is to admit that you have a gap in your knowledge. This framing of questions increases the likelihood that people will let you know when they dont know something.
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E-Commerce
Youre applying for a job and made it to the next step in the hiring process: the dreaded personality assessment. Few people like to take these testsespecially when a job offer hinges on it. And are these tests even legit? You want to showcase that youre right for the job, and some of the questions seem like no-brainers. For example, if youre asked to assess statements such as I like to learn new skills by choosing from strongly agree, agree, neither agree nor disagree, disagree, strongly disagree, youll likely choose strongly agree. Others are more nuanced, such as being asked to complete this sentence: When I set goals at work, I choose . . . Objectives I feel confident I can attain Objectives that feel challenging but attainable Objectives that are part of a bigger goal Objectives that would make me feel good to achieve Um . . . all the above? While you can answer questions based on what you think the company wants to hear, doing so comes with significant risks, says Matt Poepsel, vice president of talent optimization for The Predictive Index, a behavioral assessment tool. In psychology circles, we call it impression management, he says. You try to dress your best and show up on time, even if you don’t always do those things. It also extends over to behavioral or personality assessments that employers give. What Happens When You Game Tests Pretending on an assessment sets you up for problems later if you tilt your answers toward what you think the employer might be looking for but theyre the opposite of your true self. Its the ultimate career self-sabotage, says Poepsel. If you actually get the job, that’s almost the worst thing that could happen, he says. Now the types of tasks that they bring to you are going to be for this person that you’re not. When you land a job through falsified test results, you could feel like you must curtail certain parts of your personality that are natural for you, which could cause stress, anxiety, and eventual burnout. In addition, you will need to expend a tremendous amount of energy to do the types of tasks that weren’t a great fit for you in the first place. For example, if you present yourself as detail-oriented and youre not, youll need to bring a level of concentration to your role that’s unnatural to you. When that happens, especially for early career people, imposter syndrome begins to set in, and then performance begins to take a hit, says Poepsel. All of a sudden, you’re having those difficult conversations with your employer, and it’s really on you, because you decided that getting the job was more important than being a great fit for the job. Its like walking around in the wrong shoes, thinking this is what the employer wants me to wear. But wearing shoes that are too tight is not a comfortable way to go through your workday. What Employers Need to Do While its important that candidates answer questions honestly, employers have a responsibility in how they use assessments, too. Their misuse can be detrimental to the company in the long run. Poepsel recommends using a live interview to cross-check a candidates answers. For example, if an employer needs someone detail-oriented for a job, they may look for assessment answers that demonstrate formality and compliance. A behavioral affirming interview question might be, Tell me about a time when you’ve had to bring a tremendous amount of detail orientation to a project that you’re working on. Someone who authentically has these traits should be able to provide a detailed answer to the question. Assessments are just one tool employers can use to find their next great employee, and answering behavior test questions honestly shouldnt necessarily exclude someone from getting a job offer, says Poepsel. Ultimately, the manager owns the gaps, he says. If theyre hiring somebody for a role that’s highly detail-oriented, and youre detail-oriented but not super detail-oriented, that’s totally fine. The manager can provide coaching, training, tooling, and support to overcome that natural gap. We don’t need a 10-out-of-10 person. If somebodys an eight out of 10, they just need different types of resources and support.
Category:
E-Commerce
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