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World’s first AI real estate agent has already made $100M in sales

Florida’s Brewing Condo Crisis

March 20, 2025

Real Estate Trends

World’s first AI real estate agent has already made $100M in sales link

  • Israeli startup eSelf AI created interactive AI agents that answer questions and guide buyers through listings 24/7. Portugal-based brokerage Porta da Frente Christie’s reported $100 million in sales from AI-generated leads.

  • The AI agent can filter listings, conduct virtual tours, and provide detailed property descriptions. It helped Porta da Frente Christie’s serve international clients from the U.S. and Brazil despite time zone differences.

  • CEO João Cília said AI could replace many human agents in the future, cutting operational costs and improving service consistency. The AI agent handles over 5,000 properties and delivers faster, more accurate responses than human agents.

New Apartments Sitting Longer as Supply Grows link

  • Less than half of new apartments completed in Q3 2024 were rented within three months, tying with Q4 2023 for the lowest rate since the pandemic. Builders completed 142,900 new units in Q3, the highest on record.

  • Median rent is now $1,607, up just 0.4% year-over-year, and $100 below its record high. Vacancy rates for buildings with five or more units stood at 8.2%, the highest since early 2021.

  • Studio apartments are renting faster, with 50% absorbed within three months, up 42% from last year. One-bedroom absorption dropped to 49% from 54%, and two-bedroom absorption fell to 50% from 51%.

Housing supply gap reaches nearly 4 million in 2024 link

  • The housing supply gap in the U.S. totaled 3.8 million homes in 2024, despite the highest home completions in nearly 20 years. New construction outpaced household formations by almost 400,000 homes.

  • The South had the largest supply gap at 1.15 million homes but is on track to close it in 3 years if current trends continue. The Midwest would take 41 years, and the Northeast’s gap is growing.

  • Homeowner vacancy rates improved slightly to 1.1% in Q4 2024 but remain historically low. Rental vacancy rates were better at 6.9%, thanks to increased multifamily construction.

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Something I found Interesting

Walmart made one sleepy town the ‘Austin of the Ozarks’ link

  • Bentonville’s median list price hit $447,313 in February, up 49% from five years ago. On a square-foot basis, prices have jumped 68% since February 2020.

  • Walmart has over 15,000 corporate employees in Bentonville, attracting more than 1,300 suppliers and fueling job growth. The influx of new residents from California, New York, and Texas is driving demand.

  • High-end homes in Bentonville and Bella Vista are being bought by newcomers, not locals. Bella Vista’s "trail-front" homes near Walton-developed bike trails are highly sought after.

Location Specific

Orlando’s Kissimmee/Osceola County Logs One of Nation’s Largest Apartment Supply Increases link

  • Orlando added 14,012 new apartments in 2024, ranking among the top markets for new supply. Kissimmee/Osceola County alone delivered 3,480 units, driving 10% inventory growth.

  • Kissimmee/Osceola County's annual deliveries doubled from the past decade’s average of 1,500 units. Demand kept pace, with 3,350 units absorbed in 2024, nearly matching new supply.

  • Ocoee/Winter Garden/Clermont and South Orange County also saw major growth, adding 2,947 and 2,216 units, respectively. Ocoee/Winter Garden/Clermont’s inventory grew by 16.4%, ranking 24th nationwide.

Proptech startups that just got funded

Pro Member Only Content Below

Most of the insights below stem from extra research and include content from paid sources and special reports.

The future of speculative cold storage development

  • Speculative cold storage (SCS) development peaked between 2020 and 2023 with 5.8 million square feet delivered, but rising interest rates (from near 0% to 5.5%) since mid-2023 have slowed growth. Only 1.1 million square feet of SCS was completed in 2024, down from 5.2 million square feet across 2022 and 2023.

  • Major developers like Saxum, RL Cold, and Karis Cold have focused on large facilities (200,000 to 350,000 square feet), especially in cities like Nashville, Charlotte, Denver, and Atlanta. Rising land costs and long entitlement processes are pushing developers toward secondary markets with business-friendly conditions.

  • The U.S. cold storage market was valued at $159.7 billion in 2024 and is expected to grow at an 18.1% CAGR, reaching $427 billion globally by 2030. Demand for frozen foods with probiotics grew 33% over the past three years, and global street food options like bao buns and tacos have grown 26% in two years.

  • link

Major Cities Are Growing and Reversing the Pandemic Exodus Trend—Here’s Why

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  • U.S. metro areas grew by 3.2 million people (1.1%) from 2023 to 2024, reversing the pandemic-era population decline. New York, Houston, Dallas, and Miami saw the biggest gains due to international migration.

  • New York added 213,403 people, Houston grew by 198,171, and Dallas-Fort Worth gained 177,922 residents. Miami and Washington, DC, also saw strong increases.

  • Economic opportunities and companies returning to in-office work are driving the shift back to cities. The job market is cooling, making urban areas more attractive for stability.

  • click on the link to see the rest of the list.

ATTOM Ranks Best Counties for Buying Single-Family Rentals in 2025

  • The average gross rental yield for three-bedroom properties is projected to be 7.45% in 2025, down from 7.52% in 2024. Yields are declining in nearly 60% of counties analyzed due to rising home prices outpacing rental growth.

  • Suffolk County, NY (18%), Atlantic County, NJ (16.8%), and Jefferson County, AL (13.6%) have the highest projected rental yields for 2025. Wayne County, MI (10.9%) and Cook County, IL (9.2%) rank highest among large counties with over 1 million residents.

  • The lowest rental yields are in Santa Clara, CA (2.9%), San Mateo, CA (3.3%), and Williamson, TN (3.4%). Los Angeles County's yield is down to 6.1% from 7.1% in 2024 due to home prices rising faster than rents.

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Young Adults Are Reviving Small Towns—and They’re Moving at the Highest Rate in a Decade

  • Since 2020, 75% of growth in the 25-to-44 age group has been in cities with populations under 1 million or in rural areas. In contrast, during the 2010s, 90% of young adult growth was concentrated in major metros with over 4 million residents.

  • Colorado’s Chafee County has seen its younger workforce double over the past decade due to high natural amenity scores, while areas in Southern Appalachia with fewer natural amenities have seen little youth migration. Young adults are moving strategically to areas with appealing landscapes and outdoor access.

  • From 2019 to 2023, new business applications in small metro areas and rural counties increased 13% faster than in larger cities. Despite return-to-office mandates, younger workers are maintaining remote work flexibility and fueling rural economic growth.

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Florida’s Brewing Condo Crisis

  • Florida's aging condo buildings face major repair costs, forcing owners to pay steep special assessments. Condo values are expected to drop sharply due to these unexpected expenses.

  • A new state law requires safety inspections following the 2021 Surfside condo collapse. Non-compliant condo associations risk losing state-run insurance coverage, which could further drive down property values.

  • Tampa and other Florida markets are seeing slower condo sales as buyers hesitate due to the looming costs and insurance uncertainties. This could reshape Florida’s condo market and reduce its appeal for retirees.

  • link

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Vidit