Home sales surge in July

Be your clients’ consigliere

The best agents don't think of themselves as salespeople. They think of themselves as trusted advisers who give honest, intelligent advice, delivered straight.

But sometimes delivering honest advice is hard, especially now, when you might need to tell buyers to adjust their expectations or sellers to rethink their pricing strategy. Nobody wants to spook a client into walking. But the truth, delivered with care, is always the better bet. Don't be blunt. Be honest.

Of course, honesty only works if there's trust to back it up — and trust starts long before the tough conversations happen. It starts with how you build rapport from day one. 

Drop down to today's Foundation Plans, where we cover exactly how to do that.

- James

Home sales surged in July

Home sales rose 7% year over year in July, the strongest annual gain for 2026. But the rebound may already be losing momentum. Newly pending sales — a leading indicator of future closings — were up just 0.3% from a year ago and down 7.7% from June, according to Zillow’s July market update.

Here’s what else they report:

• The affordability edge could vanish soon. The typical monthly mortgage payment was 0.9% lower than a year ago, but a July oil price shock pushed rates back up — a trend Zillow says could erase that advantage in the coming months.

• Home values inched up. The typical U.S. home value hit $371,757, up 0.4% from June and 1.1% year-over-year.

• Inventory keeps growing. Active listings rose 1.5% year over year, while new listings increased 3.1%, extending the market's supply expansion to 32 consecutive months.

• Homes are sitting longer. The median home took 25 days to go pending in July, five days longer than last year and one day longer than June.

• Rents ticked up too. The average rent reached $1,962, up 2.3% year-over-year, though nearly 40% of rental listings still came with concessions.

My take

July's numbers look strong on the surface, but they're really just an echo of June, when a brief rate dip got buyers off the sidelines. The more important signal is what comes next: pending sales are stalling and mortgage rates are climbing again, which suggests this may be as good as it gets for the housing market this year. The rest of 2026 looks a lot slower. We can't know for sure, but be prepared for this scenario to play out.

Boomers enter their “Cash is King” era

Nearly half of older boomers are skipping mortgages entirely. Among buyers aged 71–79, 46% paid all cash, along with 39% of those 61–70 — compared to just 26% of buyers overall. That's according to NAR's 2026 Generational Trends Report.

Here are the key takeaways:

• Younger generations are far behind. Only 7% of older millennials and 3% of younger millennials bought with cash — proof this is a boomer-specific trend, not a market-wide shift.

• Even boomers who finance borrow less. 35% of older boomers and 26% of younger boomers financed less than half their home's cost, versus just 12–13% of buyers under 36.

• It's about equity, not eligibility. Experts say boomers aren't avoiding mortgages because they can't qualify — they're converting equity from a previous home into their next one.

• Debt-free retirement is the goal. With rates around 6.7%, cash offers certainty and predictable costs — appealing to buyers who've avoided debt their whole lives.

• Family is pulling boomers to move. Many are using cash to relocate closer to adult kids and grandkids, reversing decades of staying put in one home.

My take

This is a wake-up call. Yesterday's assumption about downsizing was just that — an assumption, not a rule — and boomers are proving it wrong. With 46% of older boomers and 39% of younger boomers paying all cash, they clearly have the equity and flexibility to buy the home they actually want, not just the one they can afford to shrink into. That might mean more space for visiting family, room for adult kids, or simply a home that fits how they live now — not how a stereotype says they should. Boomers make up the largest share of buyers in this market, and agents still pitching them the "downsize" playbook are leaving money on the table. Don't write off the boomers. They've got cash, and they're not afraid to use it.

Build buyer demand before your listing even goes live

The pre-market window is becoming one of the most important phases of selling a home, and Zillow Preview gives agents a free way to tap into it. With Zillow Preview, your listings can appear on Zillow and Trulia before they hit the MLS, getting in front of an average of 235 million unique users a month. Buyers can discover, save, and share your listing early, and you get real-time data on views and saves to help guide pricing and marketing decisions before day one on the market. Over 1,000 brokers have already signed on, and the program is free and open to more. If your brokerage hasn't joined yet, this is absolutely worth bringing to their attention.

10 books every agent should read

Recently, our friends at BAM published their list of the 10 books every real estate agent should read. It’s excellent and we wanted to share it with you.

Drawing on the six recs of real estate broker Dave Hutchinson and founder of Real Estate Money, and adding four of their own, here is their list:

1. Pre-Suasion: A Revolutionary Way to Influence and Persuade by Robert Cialdini

2. The Four Conversations: A New Model for Selling Expertise by Blair Enns

3. $100 Million Leads: How to Get Strangers To Want To Buy Your Stuff by Alex Hormozi

4. Wealthy and Well-known: Build Your Personal Brand and Turn Your Reputation into Revenue by AJ and Rory Vaden

5. Expert Secrets: The Underground Playbook for Converting Your Online Visitors into Lifelong Customers by Russell Brunson

6. Buy Back Your Time: Get Unstuck, Reclaim Your Freedom, and Build Your Empire by Dan Martell

7. The Agent’s Edge: Secret Strategies to Win Listings and Make Your Fortune Selling Real Estate by Jordan Cohen

8. Predictable Success: Getting Your Organization on the Growth Track-And Keeping It There by Les McKeown 

9. Traction: Get a Grip on Your Business by Gino Wickman

10. Exactly What to Say for Real Estate Agents by Phil Jones, Jimmy Mackin, & Chris Smith

My take

Combined with the list published by The Close, this is an excellent resource for any agent, experienced or new. Working through all ten will be an education in itself. It can feel daunting at first — so just pick one and start. More importantly, actually implement what you learn. Don't get stuck in analysis paralysis. What matters most is reading, learning, and putting the lessons into practice.

Schematics

The news that just missed the cut

• Ranked: The best free real estate CRMs

• Buyer questions that lead to stronger offers 

• The 10 best and worst cities for renters

• The content ChatGPT is most likely to cite

• Douglas Elliman launches Elliman Yachts, expanding its luxury platform

Foundation Plans

Advice from James to win the day

Everything in our business starts with the relationships we have with our clients. That is why it is so essential to build a good rapport from the get-go. Here are three useful tips:

Be honest and up front – This may seem obvious, but this is the difference between a good agent and a great agent. There are too many real estate agents who will say anything to drum up business. That is bad business, period. Present the data, facts, and hard truths you want to communicate in a truthful but non-confrontational way. Be upfront and set expectations early. 

Give your clients something to take home – Give every client and prospect you meet with some take-home information. Some agents do everything digitally, but we also recommend giving your clients something tangible that they can hold onto and use for reference. That will definitely help you stay top-of-mind.  

Follow up when you say you will –  There is nothing worse than an agent who says, “Yeah, I’ll call you Monday,” and they totally forget about it because they didn’t use their CRM or didn’t set a reminder. Clients want someone they can depend on, so it’s crucial to always deliver on your word. 

Remember, there is no one way to be an agent, so use these tips and adapt them for your own unique style and personality. For more helpful advice, start here.

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Just in Case

Keep the latest industry data in your back pocket with today’s mortgage rates:

“Your time is limited, so don’t waste it living someone else’s life.” — Steve Jobs

Each day is a gift – a chance to live the life you want. Ruthlessly focus on your goals. Don’t let your past or the fear of being judged distract or paralyze you. Choose to live with an integrity that you can be proud of.

Have a wonderful weekend, friends, and I’ll see you back here next Friday!

- James