Tag Archives: outlook

Delta Media Leadership Survey Reveals Real Estate Brokers 2023 Outlook

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Majority expects a decline in global and US economy – and profitability

Canton, OH – Jan. 12, 2023 (PRNewswire) Real estate brokerage leaders are rarely a pessimistic group, yet more than half believe the global economy (63 percent) and the US economy (51 percent) will deteriorate in 2023. That’s according to the new Delta Real Estate Leadership Survey of more than 100 brokerage leaders of firms collectively responsible for more than 60 percent of all transactions last year.

Michael Minard, Delta Media CEO & owner
Michael Minard, Delta Media CEO & owner

“Another bigger takeaway is that the closer to home, the more confident real estate brokerage leaders are about the economy improving over the next 12 months,” explained Michael Minard, CEO and owner of Delta Media Group.

Most (72 percent) real estate leaders believe their state economy will stay the same or improve over the next 12 months. An even larger majority (75 percent) believe their local economy will remain the same or improve.

The independent study found only 4% of real estate brokerage leaders believe the global economy will improve in 2023. However, many leaders are more bullish on their local economies, as 28% of real estate brokerage leaders believe their local economy will improve, and 25% believe their state economy will improve over the next 12 months.

“It’s important to note not a single real estate brokerage leader of the more than 100 professionals surveyed believes the global, US, state, or local economy will ‘improve significantly’ in 2023,” Minard added.

Delta Real Estate Leadership Survey - Economic confidence.
Delta Real Estate Leadership Survey – Economic confidence.

The survey also revealed real estate brokerage leaders were split on what they believe will happen to housing demand in their local markets in 2023. About one-third say it will improve, one-third say it will stay the same, and one-third believe it will deteriorate. Only 3% of those surveyed believe their local housing market will decline significantly in 2023.

Moreover, the survey gauged the confidence level of real estate brokerage leaders today compared to 12 months ago. The survey shows two in three leaders are less confident than a year ago in the global and US economies. In addition, about one in three are less optimistic about their state and local economies. But, overall, most real estate leaders (59 percent) have unchanged confidence in their state and local economies.

More bullish about their own business in 2023

More than half (53 percent) of real estate brokerage leaders see their profitability decreasing this year, and their total transactions dropping from 2022.

“What is surprising is despite the fact many real estate brokerage leaders believe their profitability and transaction count will decline in 2023, 56% believe their brokerage will increase their local market share,” said Minard, adding “They clearly see opportunity in a chaotic market.”About the survey

The independent research, conducted in December 2022 by Delta Media Group, one of America’s largest technology solutions providers for real estate brokerages, collected responses from more than 100 broker-owners and top brokerage executives representing firms that were responsible for more than 60 percent of US residential real estate transactions last year.

Nearly one in five (18 percent) of the leaders responding manage brokerages with more than $3 billion to over $10 billion in projected 2022 transactions; 23 percent manage brokerages with $1 billion to $3 billion; 21 percent manage brokerages with $501 to $999 million, and 38 percent manage brokerages with $500 million or less in total transactions.

Delta survey participants included leaders from all sizes of brokerages, with nearly one in 10 (9 percent) managing brokerages with 20 agents or fewer; slightly more than one in four leaders (26 percent) managing brokerages with 21 to 100 agents; 41 percent of leaders operating brokerages with 101 to 500 agents; 9 percent of leaders managing brokerages with 501 to 1,000 agents; and 15 percent of leaders operating brokerages with more than 1,000 agents.

Forty-three percent of the respondents are 60 years or older; 34 percent are 50 to 59 years old; 20 percent are 40-49 years old; and 3 percent are 31 to 39 years old. In addition, 77 percent are male, 21 percent are female, and 2 percent selected “not listed.”About Delta Media

Delta Media Group, Inc., located in Canton, Ohio, is a leading and trusted technology partner for many of the best-known real estate brands, including 75 LeadingRE Affiliates, 6 of the 12 largest Coldwell Banker brokerages in the nation, and over 50 top-ranked brokerages nationwide. Discover more at deltamediagroup.com.

Media contacts:
Kevin Hawkins (206) 866-1220
kevin@wavgroup.com 

SOURCE Delta Media

LendingTree’s Consumer Debt Outlook Finds Americans On Pace to Amass a Collective $4 Trillion in Consumer Debt by the End of 2018

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LendingTree releases first Consumer Debt Outlook report, a monthly analysis of Federal Reserve data

Charlotte, NC – May 10, 2018 (PRNewswire) LendingTree®, the nation’s leading online loan marketplace, today released its first Consumer Debt Outlook for May 2018. LendingTree’s analysis of the latest Federal Reserve data found that despite a recent pause in credit card balance increases, Americans are on pace to amass a collective $4 trillion in consumer debt by the end of 2018. Collectively, Americans owe more than 26 percent of their income on consumer debt, up from 22 percent in 2010.

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Incomes growing, but consumer borrowing growing faster
Since 2013, Americans have been accumulating more debt. Overall, the percentage of total non-housing debt, at 26 percent of Disposable Personal Income, is now even higher than during the credit boom in the mid-2000s.

However, the primary difference in the past few years is how Americans borrow. When comparing the growth in mortgage-related debt to other types of debt (like credit card debt and auto loans), the latter is growing at more than 7 percent annually, while housing-related debt has grown at an annual rate of a little more than 2 percent. Growth in consumer debt can cause greater strain on personal finances; it enables spending on consumables and depreciating assets like cars, rather than traditionally appreciating assets like a home.

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Temporary dip in credit card debt
Overall, the amount American consumers owe on revolving credit (primarily credit card) and non-revolving credit (like auto loans and student loans) fell by $2.9 billion in March – a less than 0.1 percent drop to $3.824 trillion. Revolving credit, primarily credit card spending, actually fell by $8.1 billion to $976.6 billion, the second consecutive month of declining balances.

But based on the longer term trend, LendingTree’s analysts expect consumers will owe more than $4 trillion on these types of credit, possibly as soon as this calendar year. For nearly two years, consumer credit has grown at a steady rate of 5 to 6 percent annually. Even if borrowing levels increase at the low end of that range, LendingTree analysts expect the total amount owed will exceed $4 trillion by the end of 2018.

Credit card borrowing remains sustainable
Credit card delinquency rates remain relatively low, despite recent reports of increases in charge-offs at some credit card issuers.

According to recent Federal Reserve’s Survey of Consumer Expectations, consumers appear to feel relatively comfortable with servicing their debts. On average, consumers reported that they expected there was only a 10.72 percent chance that they would miss a loan payment in the next three months – the lowest reading since the survey began in 2013.

The consumer is leading the way, again
When the Commerce Department delivers the Gross Domestic Product report every quarter, you’ll often read that the consumer represents two-thirds of the total economy, or that the consumer is growing the economy.

While personal consumption has always represented the lion’s share of GDP, it’s even more so in the current economic expansion. Personal consumption now exceeds two-thirds of GDP, higher than in any period since the end of World War II.

And since the end of deleveraging, when consumers reversed their borrowing habits following the housing bust, personal consumption represents nearly 80 percent of the total change in GDP.

To view the full report, visit: https://www.lendingtree.com/finance/consumer-debt-report-may-2018/

About LendingTree
LendingTree (NASDAQ: TREE) is the nation’s leading online loan marketplace, empowering consumers as they comparison-shop across a full suite of loan and credit-based offerings. LendingTree provides an online marketplace which connects consumers with multiple lenders that compete for their business, as well as an array of online tools and information to help consumers find the best loan. Since inception, LendingTree has facilitated more than 65 million loan requests. LendingTree provides free monthly credit scores through My LendingTree and access to its network of over 500 lenders offering home loans, personal loans, credit cards, student loans, business loans, home equity loans/lines of credit, auto loans and more. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information go to www.lendingtree.com, dial 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree.

MEDIA CONTACT:

Megan Greuling
(704) 943-8208
Megan.greuling@lendingtree.com