🚀 Home sales fall

In partnership with

Market Overview
Read time 1.4 minutes

Personality Hats are in

Fashion has spoken, and the personality hat is all the rage these days. You know what that means? It means it’s a great time to put your logo on a hat.

Talking about all the rage these days, you’re going to want to make it a Branded Bills hat. They make quality merch people actually want to wear.

Don’t just take it from us, see what a happy client has to say about the branded hats they just ordered:

“They're wearing them to bowling alleys, sporting events, etc.” Rebecca Ferguson, Empire CAT

If you want to make a statement with your company merch, hit up Branded Bills.

Year To Date Performances:

1. Sales of previously owned homes dropped by 5.4% in June compared to May, marking the slowest sales pace since December, according to the National Association of Realtors. This decline, which also represents a 5.4% decrease from June of last year, is largely due to the 30-year fixed mortgage rate jumping above 7% during the signing of most contracts in April and May. Despite a slight pullback in rates to the high 6% range, the market is shifting from a seller's to a buyer's market, with inventory up 23.4% year-over-year to 1.32 million units. Homes are staying on the market longer, with an average time of 22 days, compared to 18 days a year ago. However, prices remain high, with the median price of an existing home reaching an all-time high of $426,900, a 4.1% increase from last year, largely due to the strength of the higher-end market. Sales of homes over $1 million have increased, while those under $250,000 have seen the biggest drop. Although new listing prices are lower, driven by a 50% surge in homes priced between $200,000 and $350,000, higher-end buyers continue to use more cash, with 28% of sales being all-cash transactions. The increase in inventory could lead to higher home sales or a reduction in prices if they do not rise, according to Lawrence Yun, chief economist for the Realtors.

2. General Motors is further delaying its electric vehicle plans, pushing back the retooling of a Michigan electric truck plant by six months to mid-2026 and postponing the launch of Buick's first EV, initially expected in 2024. This delay means GM will not meet its North American production capacity target of 1 million EVs by 2025. CEO Mary Barra emphasized the company's commitment to responsible and profitable growth, despite concerns about hitting its production targets. GM’s EV deliveries rose 40% year-over-year in the second quarter, but EVs still accounted for only 3.2% of total sales. CFO Paul Jacobson confirmed the company aims to produce and wholesale between 200,000 and 250,000 EVs in North America this year, with a goal of achieving profitability on a production basis by the fourth quarter. However, additional EV sales are expected to reduce GM's overall earnings compared to profits from traditional gas models.

3. 10x your revenue growth using AI and make up to $20k extra per month: Imagine having Einstein's mind or Steve Jobs’ business skills in your team. You can do that now with AI.  Join this FREE AI tools workshop to know how (Free for first 100) 🎁*

4. Headlines

   1. Wiz has rejected a $23B acquisition offer from Google.

   2. Democratic senators are concerned about a lack of choice in the US cell network market as T-Mobile looks to acquire US Cellular for $4.4B.

   _{* This is sponsored content.}

Use AI as Your Personal Assistant

Ready to embrace a new era of task delegation?

HubSpot’s highly anticipated AI Task Delegation Playbook is your key to supercharging your productivity and saving precious time.

Learn how to integrate AI technology into your processes, allowing you to optimize resource allocation and maximize output with precision and ease.

Download Now!

Are you looking to grow your business? Here is how I can help:

📢Promote your startup to 2,000+ VCs including investors from a16z, YC, Techstars, Rarebreed, Sequoia and more.

📱Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

📺 Access FundraiseOS, the ultimate fundraising course with video lessons and practical worksheets helping with everything from deciding how much to raise to understanding a term sheet.

💸Promote your product or service to 100,000+ entrepreneurs.

🌐 Connect with me on LinkedIn or X (formerly Twitter) to get access to new content about startups, fundraising, venture capital, and more every day.

Onwards and Upwards,

Liam Gill