Listings market hits highest dollar value on record

Where the opportunities are

Today’s edition is truly what The Blueprint is all about. It’s full of stories, reports and advice to get you informed and motivated about all the opportunities that are out there in the market right now.

In our first story, you’ll see why buyers have leverage we haven’t seen in a long time.

In our second story, we report on a survey that digs into buyer psychology and tells us which ones are most likely to make a move.

In our third story, we look at the fastest-growing wealth hubs in the nation, and what that means for agents in those areas.

Finally, in Foundation Plans, we give our tips on how you and your clients can make the most of these opportunities. It’s Part Two of our series on financing and negotiating.

So let’s get motivated, and let’s dig into this Tuesday edition of The Blueprint!

- James and David

For sale housing market hits highest dollar value on record

Nationwide, there were a total of $698 billion worth of homes for sale in April, up 20.3% from a year ago and the highest dollar value on record, according to Redfin’s latest market report. 

For perspective, that figure is more than double the inventory value in January 2022 – the height of the pandemic boom – when supply was extremely tight and the total value of homes on the market fell to just $309 billion, the lowest recorded since Redfin began tracking in 2012. 

Here are the other key takeaways from Redfin’s report on April:

• 44% of listings were lingering on the market for 60 or more days. That stale inventory accounted for nearly half–$331 billion–of the market.

• The total number of homes for sale nationwide jumped 16.7% year-over-year, the highest level since 2020

• New listings also rose 8.6%, hitting a three-year high

• The median sale price rose 1.4% year-over-year, despite rising inventory and softer demand

Our take

Inventory is back, not just in volume, but in value. With nearly $700 billion in listings on the market, and nearly half sitting for 60+ days, buyers have options and leverage we haven’t seen in years. For agents, this means pricing strategy and negotiation skills matter more than ever. Don’t let sellers rely on outdated assumptions; the market is shifting beneath their feet. For buyers, it’s time to get off the sidelines, especially with stale listings that may be ripe for concessions. Scroll down to today’s Foundation Plans for Part Two of our series on how buyers can capitalize on the situation.

Nearly a quarter of millennials are ready to buy

Many millennials aren’t letting high mortgage rates keep them out of the market. 23% of millennials say they plan to buy a home in the next six months, up sharply from 15% last fall, and far above the 14% of total respondents in a new survey from Realtor.com. 

Here are other takeaways from the survey:

• 55% of Gen Z and 47% of millenial respondents say they’ve delayed a home purchase because of high mortgage rates, compared to the survey average of 33%.

• Boomers are the least sensitive to interest rate changes, with 41% saying mortgage rates have no impact on their buying decision, compared to Gen Z (29%) and Millennials (23%)

• Among those who have recently bought a home:

  • 57% of them used personal savings to finance their purchase.

  • 15% dipped into retirement accounts or investment portfolios.

  • 12% leaned on family for help, either through gifts or loans.

• 25% of prospective buyers plan to use retirement or investment funds to make the numbers work

Our take

This survey deserves close attention. It shows millennials are likely to be the first back on the hunt for homes even before rates drop. Many are already finding workarounds, tapping savings, investments, or family support to make deals happen. Get ahead of seller psychology by shifting the conversation from rates to life-timing and opportunity cost. Above all, build trust through education. Help buyers understand not just where rates stand, but how to navigate them with the right strategy.

The fastest-growing wealth hubs in the U.S.

Scottsdale, AZ, has officially dethroned Austin, TX, as the nation’s top magnet for millionaires. Between 2014 and 2024, Scottsdale’s millionaire population soared by an eye-opening 125%, thanks largely to the city’s booming tech sector. That’s according to the newly released USA Wealth Report 2025 from investment consulting firm Henley & Partners.

Here are the fastest-growing wealth hubs in the country as measured by the percent growth in millionaires between 2014 - 2024:

1. Scottsdale, AZ: 125%

2. West Palm Beach, FL: 112%

3. The Bay Area, CA: 98%

4. Miami, FL: 94%

5. Washington, DC: 92%

Our take

The surge in millionaire migration to cities like Scottsdale and West Palm Beach marks a clear shift in where wealth is concentrating, and where luxury real estate opportunities are heating up. These markets are drawing high-net-worth individuals not just for the weather, but for favorable tax climates, lifestyle perks, and fast-growing sectors like tech and finance. Washington, DC, for instance, now boasts 28,000 millionaires, 97 centimillionaires, and 12 billionaires. For agents, that means rising demand for high-end homes, concierge-level service, and investment-grade properties. Whether you're local to these metros or working with out-of-state buyers, it’s a trend you should be capitalizing on.

Schematics

The news that just missed the cut

• Cities that lead the nation in new home construction

• How real estate teams are affecting brokerages and the industry

• 10 coastal towns where summer rentals command top dollar 

• To start effective conversations with sellers, use this tool, script, and exact process

• Wealthy buyers are flocking to this Florida town

Foundation Plans

Advice from James and David to win the day

As we mentioned in our last edition, the number of sellers on the market right now far exceeds the number of active buyers. That imbalance gives buyers more choices AND more leverage. To help buyers and buyer agents make the most of it, we’ve launched a series on financing and negotiation strategies. You can read Part One here. 

In today’s edition, we’re focusing on how to extract concessions from sellers, and structure smarter offers without increasing the offer price. These tactics can help your buyers win not just on price, but on other terms that truly make a difference.

Ask for Seller-Paid Closing Costs – Sellers can contribute toward the buyer’s closing costs, either as a flat amount or a percentage. This tactic reduces the buyer’s upfront cash burden and can help deals move forward without cutting the sale price. It’s a straightforward ask in slower markets, especially for homes that have been sitting.

Negotiate Repair Credits or Prepaid Renovations – If the property needs updates, or if inspection reveals issues, don’t just walk away or ask for a lower price. Instead, request a credit at closing to fund the work, or negotiate to have the seller complete repairs beforehand. This keeps the sale on track while easing concerns for the buyer.

Use Appraisal Gaps to Your Advantage – Low appraisals are more common when prices are softening. Instead of fearing the appraisal gap, use it. If a home appraises below the contract price, treat that as a second chance to renegotiate. Present three options to the seller: reduce the price to match the appraisal, split the difference, or provide equivalent concessions like closing cost credits or repair allowances. Many sellers, especially those who've been on the market for weeks, will choose to compromise over starting over with a new buyer. The key is positioning the low appraisal as market feedback, not a problem to solve. 

Offer Lease-Back Flexibility in Exchange for Price or Concessions – If the seller is struggling to coordinate their move, offer them a short lease-back after closing. In return, ask for a price reduction or other perks for your buyer. This small act of flexibility can unlock bigger wins at the negotiating table.

Trade Certainty and Speed for Value – Some sellers are tired, anxious, or burned out by past deals falling through. A buyer with strong financing, fewer contingencies, and a fast closing timeline can offer certainty – something that’s just as valuable as a few thousand dollars. Use that as a bargaining chip to ask for concessions that make a real difference.

These strategies aren’t one-size-fits-all, but when used wisely, they can help you turn buyer leverage into lasting value. Stay tuned for our next installment of our series, but in the meantime, if you want more advice on seller concessions and how to negotiate them, see here and here.

Just in Case

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

“It is not necessary to do extraordinary things to get extraordinary results.” – Warren Buffett

Coming from Buffett, that says a lot. Success starts by getting going and builds through consistency. Plan, but don’t wait until everything’s perfect. Start messy. Improve as you go. Progress compounds. Success snowballs.

- James and David