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10 airport innovators recognised in the FTE Airport Transformation Power List Asia-Pacific

The following article was published by Future Travel Experience
Meet the 10 nominees for the FTE Airport Transformation Power List Asia-Pacific 2022, who…

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The following article was published by Future Travel Experience

Meet the 10 nominees for the FTE Airport Transformation Power List Asia-Pacific 2022, who have been recognised for their outstanding innovation efforts.

Future Travel Experience is excited to unveil the FTE Airport Transformation Power List Asia-Pacific 2022, following last week’s release of our Airline Power List. Here we shine a light on those who are pioneering new approaches that have the potential to improve travel for passengers and make the industry more efficient and commercially successful. The Asia-Pacific edition champions the most transformative change enablers within the airport industry in the region for their outstanding efforts to lead how their organisation has embraced innovation in order to recover and thrive following the wide-reaching impacts of the COVID-19 pandemic. In recognition of their leadership and achievements, each member of the Power List will receive a complimentary VIP “Golden Ticket” to our FTE APEX Asia Expo, taking place at the world-renowned Marina Bay Sands Expo and Convention Centre, Singapore, on 9-10 November 2022, delivered in partnership with Singapore Airlines, Star Alliance, Onboard Hospitality & Changi Airport Group, which is expected to attract over 2,000 participants from across the region and beyond, thanks to its outstanding line-up of speakers, exhibitors, social events and tours.

Three of the nominees will be awarded with an “Outstanding Achievement” trophy during an official awards ceremony at the event on 9 November, which will provide the perfect opportunity for us to announce and honour our nominees and winners, amongst industry friends and colleagues.

After extensive research into each candidate, we believe the following 10 airport executives have been right in the thick of it, facing unprecedented challenges, quickly adapting to the new normal, and charting a new course for their organisations and the wider industry.

George Fanthome, CIO, Bangalore International Airport Limited (BIAL)

Despite the COVID-19 pandemic, Bangalore International Airport Limited (BIAL), operator of Kempegowda International Airport (BLR) has strengthened its digital roadmap towards making BLR Airport the best destination airport for travellers by leveraging the power of cloud computing and digital technologies, and creating an environment for startups to innovate and advance in aviation and related domains. Among the initiatives the airport has introduced under the leadership of CIO George Fanthome include a parking-to-boarding contactless passenger experience defined by the use of self-service and biometrics technology and contactless dining and retail pre-ordering. The airport has also been pioneering the DigiYatra effort from its early concept days and pilot trials have been held at the airport since January 2017. The contactless, seamless processing of passengers at airports, based on the use of single token face biometrics for verification of passengers, is a significant project led by the Ministry of Civil Aviation and the Government of India. BLR Airport is one of the two selected airports in India for the first phase rollout of the DigiYatra Central Ecosystem (DYCE), which commenced on 15th August 2022. Meanwhile, the airport has also created a business intelligence and advanced data analytics platform to enable airport staff to make faster and better-informed business decisions, process air travellers more quickly and enhance the airport experience for the customer. Plans are also in place to establish a Joint Innovation Centre (JIC) together with Amazon Web Services to help strengthen BIAL’s digital roadmap and develop custom solutions for BLR Airport using a combination of technologies including cloud computing, blockchain, Internet of Things (IoT), analytics, machine learning (ML), artificial intelligence (AI), robotics, and augmented and virtual reality (AR/VR).

Under the theme of “Transforming Tomorrow’s Journey”, FTE APEX Asia Expo brings together an impressive line-up of speakers from the likes of All Nippon Airways, Changi Airport Group, Trip.com Group, SITA, Star Alliance, SriLankan Airlines, Cebu Pacific Air, Lion Air, Pangiam, AirAsia Malaysia, AWS, Narita International Airport Corporation, and many more, who will share ideas and new strategies for improving efficiency, operations, customer experiences, sustainability and revenues.

Find out more and register to attend for free >>

Yuh Khee Leong, Senior Vice President, Corporate IT & Technology, Changi Airport Group

Innovation is key to Changi Airport Group’s development, and an important enabler in its pursuit of operational excellence. The airport has continued to explore new digital technologies through its digital factory, called DIVA — an acronym for digital, innovation, ventures and analytics – designed to help CAG develop, experiment and launch new digital products and services from concept to market launch. The innovation centre aims to pioneer a new way of working based on customer centred design, data driven decision making, and agile experimentation. Using its serverless, cloud-native DIVA factory, CAG developed innovative solutions to support travellers during the COVID-19 pandemic and improve operational processes within the airport environment. To provide a one-stop portal for all passengers arriving at Singapore Changi Airport, CAG built a safe travel concierge application that provides users with a checklist of all Singapore’s entry requirements. CAG also developed ChangiQ, a digital queue system which was incorporated into iChangi. Departing passengers can use the application to schedule their check-in and security screenings before their flight. In the future, CAG plans to expand its enterprise data hub and use artificial intelligence to glean stronger insights to build new applications.

Changi Airport Group’s Executive Vice President – Airport Management Tan Lye Teck will take part in an opening keynote panel, where he will share his perspectives on successfully scaling back up, attracting, empowering and retaining workforce, collaboration, innovation, passenger experience, digital transformation, sustainability, lessons learned from the pandemic, and post-pandemic health and travel requirements. He will be joining leaders from Jetstar Asia, Star Alliance, SITA and AirAsia Malaysia.

Find out more and register o attend for free >>

Lily Lai, Chief Information Officer, Airport Authority Hong Kong

Airport Authority Hong Kong places much importance on innovation and aims to develop Hong Kong International Airport into a smart airport. The company leverages technology to facilitate more efficient operations and a seamless experience for its passengers. In view of the COVID-19 pandemic, the airport has pushed forward the implementation of a seamless boarding experience using facial recognition technology, as well as adopting technologies like antimicrobial coating on high-touch surfaces and disinfection channels, to ensure that both its staff and passengers feel comfortable and safe in the airport. Mobile technology, such as HKG My Flight app, is central to connecting passengers with personalised functions and information, including real-time flight updates, boarding alert, airport directional signage translation, and baggage arrival notice. Automation and robotics are also critical parts of the smart airport plans to enhance efficiency. Digital Twin – a digital 3D replica of the physical structure and facilities of HKIA – has been built to facilitate holistic airport management, predictive decision making and maintenance. Its application will cover design, construction, operation and maintenance for the full life cycle of the airport buildings. Big data intelligence is the overarching technology powering the above technologies allowing AAHK to gain insight to further optimise airport operations. As Chief Information Officer Lily Lai is leading many of these efforts, which is why we believe she is a worthy nominee in the FTE Power List.

Register for FTE APEX Asia Expo – free to attend >>

Vijaykumar Dayinde, General Manager IT Delivery & Covering CIO, Malaysia Airports

Malaysia Airports’ digital innovation framework, called Airports 4.0, focuses on four key digital transformation themes – terminal operations, passenger experience, staff mobility, safety & security. Malaysia Airports has already launched a number of integrated initiatives such as mobile app, surveillance for crowd management and retail analytics, single token for contactless and seamless passenger experience, connectivity and Airport Collaborative Decision Making (ACDM) to drive its vision of “connected and digital airport”. The airport group has invested in a robust network technology foundation to be able to support these digital initiatives. In 2020, the company launched its Network Refresh Project in a record-breaking time of 4.5 months in collaboration with Huawei, something that usually takes 12-18 months to complete. The network refresh project enables KLIA and KLIA2 now compatible with state-of-the-art technologies such as 5G, Wi-Fi 6, Internet of Things (IoT) and AI. Digital-led technology such as an ACDM system is also helping the airport to collaborate more effectively with its airline partners through the sharing of real time information. Moreover, as part of its efforts to optimise terminal use, increase operational efficiency and grow revenue, Malaysia Airports has upgraded the passenger experience with the implementation of SITA biometric-enabled self-service touchpoints at Kuala Lumpur International Airport (KLIA) and KLIA2 with automated and low touch experiences. As General Manager IT Delivery & Covering CIO, Vijaykumar Dayinde is involved in defining the IT strategy in line with Airports 4.0, delivering the key transformation projects, spearheading the IT ecosystems across airports, while ensuring all business and technical operations of the IT Division.

Register for FTE APEX Asia Expo – free to attend >>

Rama Iyer, Head – Innovation, GMR Group

GMR is at the forefront in terms of development and adoption of technological innovations in the region. As one of the largest private airport companies in India, GMR Group is driving several initiatives to enhance business prospects in terms of superior customer experiences, revenue enhancement and cost reduction opportunities as well as agile and efficient internal processes. To foster innovation culture and build a philosophy of open innovation that enables free flow of ideas and resources between GMR and external ecosystem partners, GMR Innovex, the innovation vertical of GMR, was established. It interacts, engages, and collaborates with startups, academia, ecosystem players and other companies in developing both digital and non-digital next generation solutions such as e-boarding, image-based passenger processing and full body scanners. It has institutionalised an “Innovex Fellowship Program” to identify talent early and co-create industry-leading solutions. With a major focus on airports and with a broad array of industries under its span, GMR Group is investing in multitude of technologies like cloud technologies, video analytics, computer vision, data sciences, blockchain, DroneTech, smart tagging, AI/ML, contactless technology, RPA, EV, autonomous, AR/VR, IoT, and Human Machine Interactions (HMI Bots), just to name a few. Leading these efforts is Rama Iyer, Head – Innovation, GMR Group, who is focused on building the entire innovation culture and charter for GMR Airports, while driving the airport of the future vision through innovative products/solutions partnering with startups and building a slew of offerings for airport consumption and beyond.

Register for FTE APEX Asia Expo – free to attend >>

Kittipoj Venunantana, Senior Executive Vice President (Digital and Communications Technology), Airports of Thailand

Innovation and digital technologies are also central to the operations strategy at Airports of Thailand (AOT). AOT has continuously applied Information Communication Technology (ICT) to support airport operation and internal affairs management. AOT has created a Digital Action Plan, which consists of the following elements: elevating service quality and security by applying ICT innovation; developing information system and applying technology to increase management efficiency; strengthening its digital workforce; and developing and improving the ICT infrastructure to increase capability and support future demands. AOT has set the direction in applying digital technology to facilitate the passengers in the airports under the concept of “A Life Airport”. Among the highlights of AOT’s innovation projects, led by Senior Executive Vice President (Digital and Communications Technology) Kittipoj Venunantana, include: fast automatic self check-in kiosks for passengers; self bag drop-off points with barcode luggage tags for effective tracking and management; passenger baggage reconciliation system; advance passenger processing system; and the AOT Mobile Application, which provides passengers with real-time flight status, as well as information of shops and restaurants at the airports.

Register for FTE APEX Asia Expo – free to attend >>

Hideharu Miyamoto, Senior Executive Officer / Deputy Executive Divisional Director of Corporate Planning Division, Narita International Airport Corporation

Narita International Airport is pressing ahead with the “AIR Narita” system innovation project the company launched to rebuild multiple systems into an integrated format as a means of overcoming the labour shortage, promoting workstyle reforms and remaining ahead of the competition between airports. In this project, the airport builds the foundations for continuous business optimisation by integrating all services and systems into one across all departments with the main aim to contribute to the sustainable growth of the airport. The airport is proactively incorporating robotics, artificial intelligence and other cutting-edge information and communications technologies to promote business efficiency and enhanced productivity. The airport is promoting the use of vehicles with driverless technology at Narita International Airport to overcome the shortage of labour due to the decline in the country’s working age population. Meanwhile, the airport is also moving forward with the use of artificial intelligence with the aim to improve customer satisfaction by using and analysing AI trained on real customer feedback. The airport has introduced an AI chatbot service, called BEBOT, to provide real-time responses in chat format to customer questions and requests. In 2021, Narita International Airport Corporation introduced Japan’s first end-to-end biometric boarding process, enabling passengers to travel through the entire airport without using paper documents or touching screens.

Register for FTE APEX Asia Expo – free to attend >>

Véronique Austruy, CIO, Kansai Airports

Kansai Airports – operator of Kansai International Airport (KIX), Osaka International Airport, and Kobe Airport – launched the largest airport renovation project in the region for 50 years at Kansai International Airport to support Japan’s post-pandemic recovery. Instead of building a new terminal, Kansai Airports is improving the existing terminal and KIX’s operational efficiency by proactively introducing cutting-edge technologies in a bid to ensure a comfortable, stress-free travel experience for all passengers. Kansai Airports is implementing its own Fast Travel initiative with self-check-in kiosks and self-service bag drop units to streamline departure procedures and increase KIX’s processing capacity, ultimately allowing passengers more time to enjoy the terminal’s facilities before boarding. Furthermore, with an aim to direct passengers to less crowded security areas and improve the security processing capacity, the airport has enabled passengers to see the congestion level and estimated waiting time of each international security checkpoint on their website as well as on the departures floor. This has been made possible with a Passenger Flow Management (PFM) system that uses sensors to recognise and count passengers in a queue and predicts the time required for security and passport clearance, factoring in the number of lanes used for security check and other elements. At the entrance of each security checkpoint, Kansai Airports has installed e-gates to automate the verification of boarding passes, which makes departure procedures even smoother. At security checkpoints, Smart Lanes, the latest security screening machines, have been installed. Moreover, to make the passenger experience more comfortable and secure, various robots are working actively at KIX. A security robot, Secom Robot X2, monitors images using its built-in cameras; cleaning robots enable autonomous cleaning of the terminal buildings. All robots are all equipped with sensors to avoid collisions with passengers and objects. As a measure against COVID-19, the airport also installed and automated robotic PCR testing. Kansai Airports has also set a target to reach net zero greenhouse gas emissions by 2050 for the three airports its operates and recently signed a Memorandum of Understanding (MoU) with Airbus to explore the use of hydrogen.

Register for FTE APEX Asia Expo – free to attend >>

Jonathan Good, Chief Technology and Marketing Officer, Auckland Airport

As borders gradually reopened, Auckland Airport triggered a suite of capital expenditure projects across technology, transport and terminals that will transform the airport into a world-class travel experience with seamless customer journeys. These include the development of a world-class transport centre to be built at the front doorstep of the international terminal – the first of a major new suite of projects about to get underway. Work on the Auckland Airport Transport Hub – a $300 million-plus development – began in June 2022 and it aims to transform how travellers arrive and depart from the main airport terminal, while paving the way for any future mass rapid transit to deliver passengers direct to the airport terminal precinct. The project is also the critical initial step in enabling delivery of the future new combined domestic and international terminal. Along with the Transport Hub, the airport is progressing a suite of major developments that will transform the travel experience, including $185 million enabling works for its combined international and domestic terminal and other projects to ensure a smooth travel experience. The international terminal’s eastern baggage hall will be replaced with the development of a high-tech baggage handling system that will transform the way travellers’ luggage is managed. Auckland Airport has progressed design work for an entirely new baggage handling process, introducing new technology and enhanced operations via an Individual Carrier System (ICS). The automated solution uses real-time data to track baggage as it journeys around back-of-house airport infrastructure. Bags are loaded into intelligent carrier trays tagged with radio frequency identification devices that communicate their location as they travel through an elaborate conveyor network, both speeding up the luggage journey between check-in and aircraft loading as well as reducing the risk of lost bags. The airport has also introduced new digital channels include The Mall, Auckland Airport’s online shopping site. The Collection Point service means off-airport and online tax and duty free purchases can be collected by travellers when they arrive at the terminals. As Chief Technology and Marketing Officer, Jonathan Good is responsible for the strategy and execution of world class technology and marketing programmes to improve the customer experience and ensure operational excellence to meet Auckland Airport’s current and future growth needs.

Register for FTE APEX Asia Expo – free to attend >>

Tom McCormack, Chief Technology Officer, Western Sydney International Airport

Construction of Western Sydney International (Nancy-Bird Walton) Airport is well underway and the airport is on track to begin operations in 2026, with the aim to serve 10 million passengers per year. This transformational infrastructure project will provide employment opportunities for people in the Western Sydney region, meet Sydney’s growing aviation needs, and deliver seamless travel experiences for passengers through smart design, technology and 24/7 service. The infrastructure project, planned and designed with 21st-century thinking, aims to deliver simple and intuitive wayfinding around the terminal that will be easy to navigate, will come together with great customer service to ensure passengers have a stress-free airport experience. Moreover, the airfield will be able to support emerging technologies such as electric aircraft in the future. As a member of the Western Sydney International Executive Team and leading the airport’s technology team, Tom McCormack has the responsibility for the design and implementation of all technology and cyber security of Australia’s first Smart Airport, and is empowered to create a digital-first, technology-enabled airport from scratch.

Register for FTE APEX Asia Expo – free to attend >>

Last week, we announced the nominees for the FTE Airline Transformation Power List Asia-Pacific 2022. Click here to find out which airline executives made it to the top 10.

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10 airport innovators recognised in the FTE Airport Transformation Power List Asia-Pacific

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Aging at AACR Annual Meeting 2024

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging…

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BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals

Credit: Impact Journals

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals

Impact Journals will be participating as an exhibitor at the American Association for Cancer Research (AACR) Annual Meeting 2024 from April 5-10 at the San Diego Convention Center in San Diego, California. This year, the AACR meeting theme is “Inspiring Science • Fueling Progress • Revolutionizing Care.”

Visit booth #4159 at the AACR Annual Meeting 2024 to connect with members of the Aging team.

About Aging-US:

Aging publishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.

Aging is indexed and archived by PubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed CentralWeb of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).

Please visit our website at www.Aging-US.com​​ and connect with us:

  • Aging X
  • Aging Facebook
  • Aging Instagram
  • Aging YouTube
  • Aging LinkedIn
  • Aging SoundCloud
  • Aging Pinterest
  • Aging Reddit

Click here to subscribe to Aging publication updates.

For media inquiries, please contact media@impactjournals.com.


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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked…

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked by the NY Fed Consumer Survey extended their late 2023 slide, with 3Y inflation expectations in January sliding to a record low 2.4% (from 2.6% in December), even as 1 and 5Y inflation forecasts remained flat, moments ago the NY Fed reported that in February there was a sharp rebound in longer-term inflation expectations, rising to 2.7% from 2.4% at the three-year ahead horizon, and jumping to 2.9% from 2.5% at the five-year ahead horizon, while the 1Y inflation outlook was flat for the 3rd month in a row, stuck at 3.0%. 

The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees (in other words, the "really smart folks" are expecting deflation soon). The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons, while the median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.

Going down the survey, we find that the median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; and surprisingly decreased by 0.3 percentage point for rent to 6.1% (its lowest reading since December 2020), and remained flat for food at 4.9%.

We find the rent expectations surprising because it is happening just asking rents are rising across the country.

At the same time as consumers erroneously saw sharply lower rents, median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.

Turning to the labor market, the survey found that the average perceived likelihood of voluntary and involuntary job separations increased, while the perceived likelihood of finding a job (in the event of a job loss) declined. "The mean probability of leaving one’s job voluntarily in the next 12 months also increased, by 1.8 percentage points to 19.5%."

Mean unemployment expectations - or the mean probability that the U.S. unemployment rate will be higher one year from now - decreased by 1.1 percentage points to 36.1%, the lowest reading since February 2022. Additionally, the median one-year-ahead expected earnings growth was unchanged at 2.8%, remaining slightly below its 12-month trailing average of 2.9%.

Turning to household finance, we find the following:

  • The median expected growth in household income remained unchanged at 3.1%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023, and remains above the February 2020 pre-pandemic level of 2.7%.
  • Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The increase was driven by respondents with a high school degree or less.
  • Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.
  • The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.
  • Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of respondents expecting to be worse off a year from now.
  • The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%.
  • At the same time, perceptions and expectations about credit access turned less optimistic: "Perceptions of credit access compared to a year ago deteriorated with a larger share of respondents reporting tighter conditions and a smaller share reporting looser conditions compared to a year ago."

Also, a smaller percentage of consumers, 11.45% vs 12.14% in prior month, expect to not be able to make minimum debt payment over the next three months

Last, and perhaps most humorous, is the now traditional cognitive dissonance one observes with these polls, because at a time when long-term inflation expectations jumped, which clearly suggests that financial conditions will need to be tightened, the number of respondents expecting higher stock prices one year from today jumped to the highest since November 2021... which incidentally is just when the market topped out during the last cycle before suffering a painful bear market.

Tyler Durden Mon, 03/11/2024 - 12:40

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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