Majority of homebuyers are undeterred by Iran war – for now

Undeterred & Intentional

US homebuyers are showing surprising amounts of grit. 

A new survey from Redfin shows that 56% of Americans say the Iran war isn’t affecting their plans to make a major purchase.

But that doesn’t mean the market is standing still. Some sellers are turning into “accidental landlords” rather than cutting their price, and migration toward more affordable metros continues to reshape demand across the country.

And, speaking of grit and resilience, don’t miss today’s Foundation Plans. I share some lessons I’ve learned over the years on what it takes to win. Winners aren’t lucky — they’re intentional. The habits you build and the systems you rely on ultimately determine how far you go.

It’s a packed edition today, so let’s get into it!

- James

Most homebuyers say Iran conflict isn’t affecting purchase plans

56% of Americans say that the Iran war has no impact on their plans to make a major purchase. That’s according to a major new survey commissioned by Redfin and conducted by Ipsos on March 5-6, 2026. Here are the key takeaways.

• 25% of Americans say the conflict with Iran is causing them to delay or cancel a major purchase, such as buying a home or car.

• Rising tensions have pushed oil prices higher and increased market volatility, factors that could eventually influence mortgage rates.

• Compared with other economic concerns, the effect appears relatively small:

  • Tariffs caused more than 50% of Americans to delay major purchases.

  • Job security concerns caused 42% of workers to delay purchases.

• Redfin agents report that most buyers are still moving forward, though some are pausing their searches because of uncertainty.

My take

We put the date of the survey up top for a reason. It matters. It was taken a week after the war started. We’re now on day 13, and the market environment has already shifted. The 30-year mortgage rate has jumped to 6.41%, and Brent crude is trading around $103 per barrel. If the conflict drags on — especially if tensions in the Strait of Hormuz persist — sentiment could change quickly as higher energy prices and rising mortgage rates weigh on housing demand. This is truly an issue we have to watch day by day. Already, 25% of Americans say they are delaying a major purchase. But the majority are not. They are proceeding with their plans to buy a home — for now. 

Frustrated home sellers are becoming landlords again

As homes take longer to sell, more homeowners are choosing to rent their properties instead of cutting their asking price. According to Zillow, 2.3% of homes listed for rent were previously listed for sale — the second-highest level in Zillow’s six-year dataset. Here’s what else the listing service reports:

• The record was 2.4% in November 2022, when mortgage rates surged and disrupted the housing market.

• Today’s increase is “choice-driven,” not shock-driven — many sellers simply prefer renting to cutting their price.

• Single-family homes dominate accidental landlord listings:

  • 3.4% of single-family rentals

  • 2.2% of townhomes

  • 1.1% of condos

• The trend is concentrated in more buyer-friendly markets where homes take longer to sell and price cuts are more common.

• Here are the top 5 metros with the highest share of accidental landlords

  • Denver — 4.9%

  • Houston — 4.2%

  • Austin — 4.1%

  • San Antonio — 3.9%

  • Portland — 3.7%

My take

The housing market is rarely just one story. It’s a mixed bag. On one side, many homeowners who pulled their listings last year are now coming back to the market, with relistings hitting record levels as sellers try again during the spring season. At the same time, another group of frustrated sellers is choosing a different path: renting their homes and becoming accidental landlords rather than cutting their asking price. For agents, the takeaway is simple: sellers are weighing more options. Pricing conversations still matter, but so does understanding the rental market and helping clients decide whether renting, relisting, or adjusting the price is the better path.

Top metros homebuyers are moving to

Long-distance moves ticked up in 2025. Even though home sales were slow, more buyers and renters were able to relocate. In fact, 18.8% of house hunters looked to move to a different part of the country in the fourth quarter, up from 17.9% a year earlier and up from 15.9% about five years earlier.

Much of this migration continues to be driven by affordability. Buyers leaving expensive coastal metros like San Jose, San Francisco, New York, and Los Angeles are increasingly relocating to lower-cost markets across the Sun Belt and Mountain West.

Here are the top metros homebuyers are moving to as of Q4 2025:

1. Sacramento, CA

2. Las Vegas, NV

3. Cape Coral, FL

4. Sarasota, FL

5. Miami, FL

6. Spokane, WA

7. Orlando, FL

8. Boise, ID

9. Myrtle Beach, SC

10. San Antonio, TX

My take

Even in a slow housing market, people are still moving — they’re just being more selective about where they go. High home prices in coastal markets continue to push buyers toward more affordable metros across the Sun Belt and Mountain West, where their purchasing power goes a lot further. For agents in these destination markets, migration is still a meaningful source of demand. Many relocating buyers also arrive with significant equity from their previous homes, which can give them an edge when they’re making offers. Make sure you understand what’s motivating their move. That will help you better position your listing and market yourself.

Schematics

The news that just missed the cuts

• The new trend in luxury real estate: the rise of the subscription home waiting list

• Howard Hanna takes a middle ground approach to pre-marketing

• Most agents lose deals in the follow-up. Use these messages to fix that

• This Naples mansion could become the most expensive home ever sold in the U.S.

• Howard Schultz is the latest billionaire to ditch the West Coast for Miami

Foundation Plans

Advice from James to win the day

Last week I shared part of my story — from being broke in London to eventually selling more than $5 billion in real estate. But the real transformation wasn’t financial. It was mental. Over time I realized something simple: winners aren’t lucky — they’re intentional. The habits you build and the systems you rely on ultimately determine how far you go.

Today, I want to share a few mindset changes I’ve learned over the years that have helped me win.

1. Discipline beats motivation – Motivation gets you started, but it fades. Systems keep you moving when you don’t feel like it, and those are often the days that matter most.

2. Failure is how you grow – Early in my career, I had to learn an important lesson: failure isn’t rejection — it’s feedback. The only way you grow and become more successful is through failure. When you fail, you learn. The key is separating a temporary setback from your identity. Study the mistake, adjust, and come back stronger. If you start thinking about failure as growth rather than defeat, you’ll return ten times better.

3. Think in years, not days – Don’t chase instant gratification. It doesn’t exist in this business. The strongest businesses are built through steady outreach, consistent follow-ups, and long-term relationships — not quick wins.

4. Choose your environment carefully – The people around you matter more than you think. Winners surround themselves with people who challenge them and push them to improve. Spend time with people who are successful, who uplift you, and who aren’t afraid to tell you the truth. At the same time, filter out negativity and toxic influences. Success is contagious — but so is mediocrity.

5. Build habits and systems that make consistency possible – Deals are often won or lost in the invisible work: tracking conversations, managing notes, preparing comps, and staying on top of your pipeline. The best agents build simple routines and systems that keep them executing at a high level even on their worst days. 

One final thought. 

For years, parts of my business were structured and parts weren’t. Mondays have always been my pipeline accountability day — I never miss it. But other parts of my workflow were scattered across different tools 

That frustration is what ultimately led me to build Breezy. 

If any of this resonates with you, I’d encourage you to check it out.

Because at the end of the day, success in this business — and in life — isn’t about luck. It’s about being intentional with how you think, how you work, and the systems you build around you.

Breezy

Feature of the Week — Underbuilt: Discover what your space could be in seconds

One of the features of Breezy that will blow your mind is Underbuilt.

Breezy does these things with Underbuilt:

• It reveals the hidden build potential of your property in seconds.

• It reveals how big you can build, how much you can expand, and clarifies the hidden value of a space, saving thousands in research costs and giving clients clarity on the spot.

• It enables agents to close deals at better valuations. Most clients don’t even know that they can build on their property. Agents who can reveal that potential, win the listing, shape the valuation, and earn instant trust. It’s an unbelievable competitive edge.

Founding Member, Micah Wetanson , says:

“I was at a showing and my client was wondering if they could add on a bedroom, and in real time I was able to go on Underbuilt and tell them they had about 500 sq ft they can build on.” — Micah Wetanson, Estates Agent – Carolwood Etates

Founding Member from Kentucky, who wishes to remain anonymous, says:

"I sold a parcel of land for a client and we assumed we knew what could be built on the land. I just ran it through Underbuilt now and found you can build SO much more than we'd guessed. If I'd have known, I could have sold it for 2x the price!"

For more on how you can use Underbuilt through Breezy, click here!

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

Don’t wait till Monday or tomorrow to improve, friends. Start today. Have a bias toward action. That’s the only way you will become the person and success you want to be.

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

- James